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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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Wednesday, 06 February 19
THE BDI HAS EASED BACK TO 645 BP, ITS LOWEST LEVEL SINCE AUGUST 2016 - ALLIED
The dry bulk sector is in the doldrums, with most market participants seemingly left utterly perplexed, and simultaneously, in pursuit of any posit ...
Monday, 04 February 19
COAL STILL IN HIGH DEMAND GLOBALLY
Although the world is switching to renewable energy there is still a big demand for coal around the globe.
This is according to Cany ...
Friday, 01 February 19
ULTRAMAX WAS FIXED DELIVERY KALIMANTAN, FOR TRIP TO WEST COAST INDIA AT $7,000 - BALTIC BRIEFING
Capesize
The Vale dam tragedy sparked a sharp fall in rates across all regions even where tonnage remained tight. The potential loss of product ...
Friday, 01 February 19
SEMBCORP SELECTS NORDEN FOR LONG-TERM INDIAN CONTRACT
NORDEN A/S has signed a 10-year Panamax Contract of Affreightment (COA) with Indian utility firm Sembcorp Energy India Ltd.
From 1 A ...
Tuesday, 29 January 19
HARD COAL BEARS THE BRUNT OF THE RECOMMENDATIONS OF THE COMMISSION GROWTH STRUCTURAL CHANGE AND EMPLOYMENT - VDKI
Press Release: Hard coal bears the brunt of the recommendations of the Commission Growth Structural change and employment.
In its fi ...
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- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
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