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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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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Australian Coal Association
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
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