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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, 17 June 20
MARKET INSIGHT - INTERMODAL
After experiencing record earnings during the first half of the year, the focus of headlines concerning the tanker market has shifted from the deve ...
Wednesday, 17 June 20
KOREA SOUTHERN POWER CO INVITED 80000 MT OF LOW CALORIFIC VALUE COAL FOR AUGUST 1H, 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) Min 4,200 kcal/kg - Max. ...
Tuesday, 16 June 20
A GLOBAL ECONOMIC SLUMP: WHAT WILL IT MEAN FOR METALS AND MINING? - WOOD MACKENZIE
Back before coronavirus knocked “normal” out cold, the key issues for miners were sub-investment prices, rising requirements for ESG an ...
Tuesday, 16 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.58 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.43 points Monday, up 0.58 percent week on week.
The index, released by China ...
Tuesday, 16 June 20
HIGHER IRON ORE PRICES OFFSET CORONAVIRUS-DRIVEN PRODUCTION RISK - FITCH RATINGS
Lower iron ore production in Brazil, resulting from rising coronavirus infections, should only marginally affect the cash flow of Vale and other gl ...
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- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- PTC India Limited - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
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