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Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
 - Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
Moody's Investors Service maintains negative 2020 outlooks for the US coal and US steel industries and a stable outlook for the global base metals sector, amid slowing economic growth and trade frictions, the rating agency says in its annual report.
The stable outlook for global base metals is driven by supply/demand fundamentals despite weaker GDP rates and lower Purchasing Managers Indexes (PMIs). However, a challenging macro operating environment warrants some caution for the sector.
"Geopolitical and economic concerns as well as trade tensions will once again overshadow the global base metals markets in 2020, continuing the pressures experienced as 2019 as deceleration in global economies took hold," says Carol Cowan, Moody's Senior Vice President. "ESG considerations will also continue to increase in visibility, demanding more transparency and improvement from the industry."
Moody's negative outlook for the US steel industry reflects its expectation that weaker fundamentals will hold in 2020, prices will not rebound significantly and planned new capacity will weigh on market sentiment.
"It's a tale of 2 steels – EAF producers will continue to benefit from lower scrap costs, helping mitigate lower realized steel prices, while blast furnace producers will continue to face higher iron ore costs and likely-increasing costs related to environmental compliance," says Cowan.
Meanwhile, Moody's expects US coal producers' cumulative EBITDA to decline by more than 3% over the next 12 months, due to a substantive decrease in export prices in 2019 among other factors.
"The outlook for thermal coal is increasingly stressed, with ESG factors weighing heavily on demand from utilities," says Benjamin Nelson, Moody's VP-Senior Credit Officer. "Our long-term outlook for North American thermal coal calls for a substantial volume reduction over the next decade, driven by utilities switching to natural gas, where we expect prices will remain low, and renewable energy, which still benefit from government subsidies."
Moody's outlooks for 2020 consider fundamental credit conditions that will affect sectors for the next 12-18 months.
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Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
Friday, 18 September 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 17 September 20
LAST HOPES FOR DEMAND GROWTH SET TO DISAPPOINT THERMAL COAL EXPORTERS - IEEFA
Asian thermal coal exporters are fighting an uphill battle even in new markets
The world’s largest thermal coal exporter is eyeing new m ...
Wednesday, 16 September 20
MARKET INSIGHT - INTERMODAL
Another active week in terms of SnP has concluded in the dry bulk market with a diversified array of transactions recorded. Despite the correction ...
Friday, 11 September 20
IMO 2020: A REVIEW OF THE TRANSITION TO VLSFOS - GARD
KNOWLEDGE TO ELEVATE
Many predictions were made in the run up to the imposition of the MARPOL 2020 sulphur cap, none of which was that the tra ...
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- Thai Mozambique Logistica
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- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
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- Commonwealth Bank - Australia
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- VISA Power Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
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- Electricity Authority, New Zealand
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- Bangladesh Power Developement Board
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- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
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- Eastern Energy - Thailand
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- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
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- Coal and Oil Company - UAE
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- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
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- Ceylon Electricity Board - Sri Lanka
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- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
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- Planning Commission, India
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- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
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- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
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- Eastern Coal Council - USA
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- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
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- Minerals Council of Australia
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- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
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- The University of Queensland
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
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