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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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Thursday, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
Tuesday, 15 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country's Co ...
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- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Planning Commission, India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Economic Council, Georgia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
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