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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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Wednesday, 09 September 20
MARKET INSIGHT - INTERMODAL
The uneventful summer lull which is coming to an end soon has left its stigma on the newbuilding market, which has already been devastated by the g ...
Saturday, 05 September 20
INDIA WON'T KICK ITS COAL HABIT SO EASILY - HINDU BUSINESS LINE
India has traditionally considered itself lucky to have been endowed with abundant coal reserves, which it has sought to use to meet its energy nee ...
Saturday, 05 September 20
FINANCING COMPLETE FOR 900MW FIFTH PHASE OF MASSIVE DUBAI SOLAR PARK: ARABIAN BUSINESS
Saudi-based ACWA Power on Thursday announced it has completed the signing of all financing agreements for the fifth phase of the Mohammed bin Rashi ...
Saturday, 05 September 20
POLISH COAL DEMAND EXPECTED TO FALL BY 7 MLN TONNES NEXT YEAR: MINISTER - REUTERS
Poland’s demand for coal is expected to fall by around 7 million tonnes next year, or more than 10% of annual hard coal production, after a d ...
Saturday, 05 September 20
PAKISTAN'S NEW 27-YEAR POWER PLAN RISKS LOCKING IN LONG-TERM OVERCAPACITY, LEAVING IMPORTED COAL AND LNG PLANTS STRANDED - IEEFA
Wind and solar, the country’s cheapest source of new generation, also overlooked
Pakistan risks locking itself into building m ...
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- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- The University of Queensland
- Ministry of Finance - Indonesia
- Planning Commission, India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- White Energy Company Limited
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
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