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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, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
Wednesday, 13 November 19
INDONESIAN NOVEMBER COAL PRICE REFERENCE LOGS FIRST GAIN SINCE AUGUST
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
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- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
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