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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, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets i ...
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- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Eastern Coal Council - USA
- VISA Power Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
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