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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, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
Friday, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
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- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Parliament of New Zealand
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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