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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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Monday, 29 June 20
CHINA COAL IMPORT OUTLOOK: MANY MOVING PARTS, FORECAST TO FALL 10% YOY - GHEE PEH | IEEFA
China’s coal demand declined in the first quarter of 2020. According to the China National Coal Association, the country consumed 870mt in th ...
Monday, 29 June 20
ULTRAMAX: A 58,000 FIXING DELIVERY SINGAPORE TRIP, VIA EAST COAST INDIA, REDELIVERY CHINA IN THE LOW $12,000S - BALTIC BRIEFING
Capesize
As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a ba ...
Saturday, 27 June 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 26 June 20
WHAT TODAY'S BAILOUTS CAN DO FOR TOMORROW'S ECONOMIES - WORLD ECONOMIC FORUM
The COVID-19 crisis provides an opportunity for governments to build fairer, more sustainable and more resilient economies.
Governments a ...
Thursday, 25 June 20
ALL YOU WANT TO KNOW ABOUT COAL MINE AUCTIONS - THE HINDU BUSINESS LINE
Last week, Prime Minister Narendra Modi threw open the auction of 41 coal blocks for commercial mining. The decision, which was part of the announc ...
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- MS Steel International - UAE
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- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
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- VISA Power Limited - India
- Goldman Sachs - Singapore
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- Coalindo Energy - Indonesia
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- Indika Energy - Indonesia
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- New Zealand Coal & Carbon
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- Directorate General of MIneral and Coal - Indonesia
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- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
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- Xindia Steels Limited - India
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- Rashtriya Ispat Nigam Limited - India
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- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
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- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
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- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
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- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
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- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
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- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
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