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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, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
Wednesday, 04 December 19
FITCH RATINGS: CASH FLOW GENERATION TO SLOW DOWN FOR INDONESIAN COAL MINERS
Fitch Ratings' negative outlook on the Indonesian coal-mining sector reflects our view of weaker cash flow generation on account of declining c ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Minerals Council of Australia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
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