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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, 15 June 19
SUPRAMAX: A 58,000-TONNER, OPEN QINGDAO, WAS BOOKED TO REDELIVER IN EAST COAST INDIA AT $6,500 - BALTIC BRIEFING
Capesize
The market closed on a quiet Friday last week after a few hectic days of mid-week trading. Trade routes from Brazil to the Far East we ...
Friday, 14 June 19
PANAMAX: OUTLOOK IS MIXED - FERNLEYS
Capesize
Sentiment changed to a more nervous tone as pacific cargo volumes failed to deliver as expected, however latest activity indicates res ...
Friday, 14 June 19
ELECTRONIC (PAPERLESS) TRADING - SKULD
KNOWLEDGE TO ELEVATE
Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platfor ...
Wednesday, 12 June 19
KOSPO INVITES BIDS FOR 140,000 MT OF 4,600 NCV COAL FOR SEP. 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 140,000 MT of minimum 4,600 kcal/kg NCV coal ...
Wednesday, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
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- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Australian Coal Association
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Minerals Council of Australia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
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