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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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Saturday, 15 February 20
CHEN ZHIDA: NOVEL CORONAVIRUS - IMPLICATIONS FOR CHARTERPARTIES - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Last month, the Club issued a bulletin on the 2019 Novel Coronavirus (COVID-19) which explained the origin of the virus a ...
Saturday, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between Chin ...
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- Minerals Council of Australia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
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