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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, 01 July 19
COAL DEMAND RISES, BUT REMAINS BELOW PEAK LEVELS - FORBES
This article is the third in a series on BP’s recently-released Statistical Review of World Energy 2019. The Review provides a comprehensive ...
Saturday, 29 June 19
ULTRAMAX: FROM SOUTHEAST ASIA MORE COAL WAS ENTERING THE MARKET - BALTIC BRIEFING
Capesize
The market showed variability over the past week, as most routes were active yet sentiment differed from region to region. The Pacific ...
Wednesday, 26 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the first half of the year is almost over, it is worth looking back at the sale and purchase activity during these months, focusing on the segme ...
Tuesday, 25 June 19
THERMAL COAL FUTURES ON THE ZHENGSHOU EXCHANGE ROSE - DANIEL HYNES
Coal markets were buoyed by ongoing supply side issues.
According to Daniel Hynes, Senior Commodity Strategist of ANZ, the the ...
Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
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- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
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- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
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- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
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- Coastal Gujarat Power Limited - India
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- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
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- IEA Clean Coal Centre - UK
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- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
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- Global Coal Blending Company Limited - Australia
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- The University of Queensland
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- Marubeni Corporation - India
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- Heidelberg Cement - Germany
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- Australian Coal Association
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- Directorate Of Revenue Intelligence - India
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- AsiaOL BioFuels Corp., Philippines
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- The Treasury - Australian Government
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- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
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- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
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- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Planning Commission, India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
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