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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, 12 February 20
COAL INDIA WILL EXCEED LAST YEAR'S PRODUCTION FIGURES: OFFICIAL - PTI
Despite coal production being hampered at Dipka mines due to prolonged rains, Coal India Ltd will exceed last year’s production figures, a to ...
Wednesday, 12 February 20
MARKET INSIGHT - INTERMODAL
The recent Coronavirus outbreak in China has led to a global health emergency by World Health Organization and it is yet to be seen how long the ph ...
Wednesday, 12 February 20
CHANGES IN LNG MARKET COULD UNDERCUT PLANS FOR NEW JAPANESE COAL PLANTS - CLYDE RUSSELL
Reuters: Clyde Russell
The collapse in the spot price of liquefied natural gas (LNG) in Asia is a short-term phenomenon that may wel ...
Wednesday, 12 February 20
THE SHIPPING INDUSTRY SEES FREIGHT MARKETS IN A COMPLETE STATE OF COLLAPSE AS DEMAND GETS PARALYZED DUE TO CORONAVIRUS OUTBREAK - ALLIED
With China and the world still trying to contain the effects and come to terms with the Wuhan novel coronavirus outbreak, the shipping industry see ...
Wednesday, 12 February 20
WORLD STEEL PRODUCTION IN 2019 - BANCHERO COSTA
In a worrying development, global steel production slowed down considerably in the fourth quarter of 2019. In the final 3 months of 2019, total cru ...
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- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Planning Commission, India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
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