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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, 04 February 20
CAPE: THE AVERAGE EARNINGS PER DAY FELL BENEATH THE USD 4,000, A LEVEL CONSIDERABLY BELOW EVEN THE MOST CONSERVATIVE OPEX LEVELS - ALLIED
The recent slump in the dry bulk freight market may well have been expected to some degree, but despite this the shock was still overwhelming when ...
Monday, 03 February 20
KOWEPO INVITING BIDS FOR 2.46 MILLION TONS OF MIN.5700 AND MIN.5600 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,460,000 tons of (Sub) Bitum ...
Sunday, 02 February 20
NOVEL CORONAVIRUS OUTBREAK IN CHINA - STANDARD CLUB
Members will be aware of the recent novel coronavirus outbreak in China, which has now been declared a global emergency by the World Health Organis ...
Sunday, 02 February 20
SUPRAMAX: A 52,000DWT SHIP WAS FIXED BASIS DELIVERY SOUTH KALIMANTAN TRIP TO INDIA, AT $6,000 - BALTIC BRIEFING
Capesize
The week proved conspicuous for all the wrong reasons. This was the week when the Baltic Capesize Index (BCI) turned negative, closing ...
Saturday, 01 February 20
50 MILLION PEOPLE QUARANTINED IN CHINA TO CONTAIN SPREAD OF CORONAVIRUS - HOW DOES IT AFFECT SHIPPING? - BIMCO
The outbreak of the novel coronavirus, declared a global health emergency by the WHO, has caused massive uncertainty across the global markets with ...
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- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
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