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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, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
VLCC
Escalating tensions between the USA and Iran, in addition to a continuing strong market, made for an interesting week, with rates firming ...
Saturday, 11 January 20
SUPRAMAX: INDONESIA COAL RUNS, A 58,000DWT SHIP WAS RUMOURED FIXED DELIVERY KALIMANTAN, REDELIVERY WEST COAST INDIA, IN THE $4,000S - BALTIC BRIEFING
Capesize
Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction. Opening ...
Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
...
Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
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- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
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