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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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Friday, 13 March 20
PANAMAX: SLIGHTLY STRONGER NUMBERS IN BOTH BASINS THIS WEEK - FEARNLEYS
Cape
Still very sad times for the big ships, and merit in further trading at present levels is highly debatable for most tonnage. Spot fixtures ...
Friday, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 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, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
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- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- PTC India Limited - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- The University of Queensland
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