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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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Monday, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
Tuesday, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
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- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
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