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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, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- Electricity Authority, New Zealand
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- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
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- India Bulls Power Limited - India
- Latin American Coal - Colombia
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- Billiton Holdings Pty Ltd - Australia
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- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
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- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
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- Tamil Nadu electricity Board
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- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
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- Eastern Energy - Thailand
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- Salva Resources Pvt Ltd - India
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- IHS Mccloskey Coal Group - USA
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- Lanco Infratech Ltd - India
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- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
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- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
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- Global Business Power Corporation, Philippines
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- Samtan Co., Ltd - South Korea
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- Alfred C Toepfer International GmbH - Germany
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- Australian Coal Association
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- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
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- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
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- Bhoruka Overseas - Indonesia
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- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Petron Corporation, Philippines
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- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
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- Global Green Power PLC Corporation, Philippines
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- Sojitz Corporation - Japan
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- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
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- The Treasury - Australian Government
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- White Energy Company Limited
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- Intertek Mineral Services - Indonesia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Global Coal Blending Company Limited - Australia
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- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
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- Power Finance Corporation Ltd., India
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- Indian Oil Corporation Limited
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- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
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- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
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- Indonesian Coal Mining Association
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- Ministry of Finance - Indonesia
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- Minerals Council of Australia
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- Electricity Generating Authority of Thailand
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- Merrill Lynch Commodities Europe
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- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
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- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
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