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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, 04 March 20
MARKET INSIGHT - INTERMODAL
As it was expected, the whole world has been focusing on the spread of the Coronavirus, with the fast outbreak being primarily a massive humanitari ...
Wednesday, 04 March 20
CORONAVIRUS: A WILDCARD FOR BULKS DEMAND - WOOD MACKENZIE
The coronavirus is casting a shadow across commodity markets. It has undermined China’s economic sentiment, putting the country’s growt ...
Wednesday, 04 March 20
THERMAL COAL TO 'PHASE OUT', STRONG DEMAND FOR COKING COAL: PLATO - SYDNEY MORNING HERALD
Plato Investments managing director Don Hamson says Australian iron ore producers are set to benefit in the fallout from coronavirus as China will ...
Wednesday, 04 March 20
CHINA PROVINCE TO CLOSE 10 MLN TONNES OF COAL CAPACITY IN 2020 - XINHUA
Southwest China’s Guizhou Province plans to phase out 10 million tonnes of outdated coal production capacity by closing 80 coal mines in 2020 ...
Wednesday, 04 March 20
UKRAINE PRODUCED OVER 2.55 MLN TONNES OF COAL IN FEBRUARY - UKRINFORM
In February 2020, Ukraine produced over 2.55 million tonnes of coal, which is 0.2% less than planned.
The Coal Miners Union of Ukrai ...
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- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
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