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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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Tuesday, 12 May 20
A GLOBAL ECONOMIC RESTART HAS SLOWLY BEGUN AS COUNTRIES AROUND THE WORLD GRADUALLY - ALLIED
A global economic restart has slowly begun as countries around the world gradually set their return back to “normality”. Yet by all mea ...
Tuesday, 12 May 20
CAN INDONESIA'S COAL INDUSTRY SURVIVE COVID-19? : IEEFA
Pandemic Lockdown and Slumping Prices Put Extreme Pressure on Coal Miners
Executive Summary
While attention has been focused on th ...
Tuesday, 12 May 20
INDIA'S COAL PRODUCTION TO CLOCK RECORD 700 MILLION TONNES IN FY21: COAL SECRETARY - PTI
Coal Secretary Anil Jain said FY20 coal production was lower than the target of 660 million tonnes because of flooding of a key coal mine.
&nbs ...
Monday, 11 May 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Monday, 11 May 20
CORONAVIRUS PUTS MORE THAN A THIRD OF SEABORNE COAL SUPPLY AT RISK - WOOD MACKENZIE
The full impact of the coronavirus outbreak on the global economy is yet unclear. However, the demand destruction is already becoming evident, with ...
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- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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