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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, 14 January 20
MABUX: BUNKER MARKET THIS MORNING, JAN.14
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) changed insignificant and i ...
Tuesday, 14 January 20
SHIPPING MARKET ANALYSIS - ALLIED SHIPBROKING
Uncertainty in the global geopolitical sphere seems to have not come to an end along with 2019, as 2020 commenced with renewed tensions between the ...
Tuesday, 14 January 20
DRY BULK MARKET: "THIS IS NOT THE END OF COAL" SAYS IEA - BALTIC EXCHANGE
A historic drop in coal-fired electricity generation will not sway global coal demand from its upward trajectory through to 2024, though growth wil ...
Saturday, 11 January 20
ARE YOU 95% CONFIDENT THAT YOUR VERY LOW SULPHUR FUEL IS ON SPEC AND MARPOL COMPLIANT? - GARD
KNOWLEDGE TO ELEVATE
Bunker fuel is a commodity and, like all commodities, is produced and sold according to specifications. Bunkers are usual ...
Saturday, 11 January 20
NEW PRICING COULD SPELL TROUBLE FOR CHINA'S COAL SECTOR - CHINA DIALOGUE
Benchmark coal tariffs have been the foundation of China’s electricity pricing since 2004 but this mechanism was replaced on January 1 with a ...
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- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
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