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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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Tuesday, 18 February 20
ADARO REMAINS POSITIVE ON THE LONG-TERM FUNDAMENTALS OF COAL MARKET SUPPORTED BY THE SOUTHEAST ASIA AND SOUTH ASIA REGION
The global seaborne thermal coal market in 2019 was faced with macro and industry challenges which pushed international coa ...
Tuesday, 18 February 20
CORONAVIRUS AND ITS IMPACT ON YOUR CONTRACT - CAN YOU RELY ON 'FORCE MAJEURE'? - INCE
KNOWLEDGE TO ELEVATE
On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of the Novel Coronavirus (officially t ...
Monday, 17 February 20
IMO-2020 SULPHUR CAP - ISSUES TO CONSIDER PRIOR TO THE IMPLEMENTATION OF THE CARRIAGE BAN ON 1 MARCH 2020 - STANDARD CLUB
With the IMO 2020 global sulphur cap now in force, members should bear in mind another significant date in relation to the ‘carriage ban&rsqu ...
Monday, 17 February 20
COVID-19: THE EFFECT OF THIS PUBLIC HEALTH EMERGENCY ON CHARTERPARTY TERMS - GARD
KNOWLEDGE TO ELEVATE
Is it useful to compare the COVID-19 with earlier disease outbreaks?
A comparison with the Ebola outbreak ...
Saturday, 15 February 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - REUTERS
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Australian Coal Association
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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