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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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Saturday, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
Friday, 20 March 20
VOLATILITY TO INCREASE IN TANKER MARKET FOLLOWING OIL PRICE WAR - DREWRY
Crude oil prices plunged by more than a third in the past week after OPEC+ failed to agree on production cut as demand softened in the aftermath of ...
Friday, 20 March 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 ...
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Interm ...
Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
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- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Deloitte Consulting - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
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