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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, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
Wednesday, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
The world is heating up, and its oceans are no exception. According to the International Panel on Climate Change (IPCC), the oceans absorb the majo ...
Wednesday, 19 February 20
MARKET INSIGHT - INTERMODAL
The coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GD ...
Tuesday, 18 February 20
WEEKLY MARKET ANALYSIS - ALLIED
Under such poorly performing market circumstances, many usually take the historical approach, in order to better understand and further analyze the ...
Tuesday, 18 February 20
ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro Me ...
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- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- VISA Power Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
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