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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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Thursday, 05 March 20
SEABORNE COAL'S STRUGGLES IN ASIA ARE MORE THAN JUST CHINA CORONAVIRUS - REUTERS
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
Thursday, 05 March 20
INDONESIA'S BUKIT ASAM 2019 OUTPUT RISES 10.2% Y/Y - REUTERS
PT Bukit Asam, Indonesia’s state-owned coal miner, said on Wednesday its output in 2019 rose 10.2% to 29.1 million tonnes.
Coa ...
Thursday, 05 March 20
SEEING REMOTELY - IN SAFETY: BUREAU VERITAS PERFORMS FIRST SURVEY BY DRONE - BUREAU VERITAS
Bureau Veritas Marine & Offshore (BV), a world leader in testing, inspection and certification (TIC) services has completed its first survey by ...
Wednesday, 04 March 20
AN EPIDEMIC OF UNCERTAINTY - THE CORONAVIRUS AND FORCE MAJEURE - WFW
KNOWLEDGE TO ELEVATE
Do the effects of the coronavirus give rise to legitimate force majeure claims in connection with shipbuilding contracts ...
Wednesday, 04 March 20
CHINA IMPORTED 76.8 MLN TONNES OF CRUDE OIL FOR JANUARY & FEBRUARY 2020; UP 3.4% YOY - REFINITIV | BC
The COVID-19 crisis has been gripping China already for almost two months now. It’s having a huge negative impact on the economy, and this is ...
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- Parliament of New Zealand
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
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