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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, 06 May 20
KOSPO INVITED COAL BIDS FOR LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 160,000 Metric Tons (MT) Low Calorific Value Coal for J ...
Wednesday, 06 May 20
COST CHALLENGES IN A US$20/BBL WORLD - WOOD MACKENZIE
A new approach is needed to ensure supply sector resilience
How will US$20/bbl affect the oil and gas supply chain?
It’s going to g ...
Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Cov ...
Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefi ...
Wednesday, 06 May 20
IRON ORE TRADE REMAINS REMARKABLY RESILIENT THIS YEAR, AT LEAST IN ASIA - BANCHERO COSTA
Iron ore trade remains remarkably resilient this year, at least in Asia, despite the global economic impact from COVID-19. In the first 4 months of ...
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- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
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