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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, 19 December 18
GLOBAL SHIPPING SCOUTS FOR FUTURE GROWTH - PETER SAND, BIMCO
Where do we go to find economic growth that spurs shipping demand in the next five years? According to the International Monetary Fund (IMF), we sh ...
Wednesday, 19 December 18
SHIPPING MARKET INSIGHT - INTERMODAL
As another year is coming to an end, it is interesting to look at the main shipping markets and how these performed compared to 2017.
&nb ...
Tuesday, 18 December 18
COAL DEMAND WILL REMAIN STEADY THROUGH 2023, INTERNATIONAL ENERGY AGENCY SAYS - TOM DICHRISTOPHER, CNBC
Coal consumption is on the rise but will remain roughly stable over the next five years, the International Energy Agency forecasts.
...
Tuesday, 18 December 18
DRY BULK: IN ABSOLUTE TERMS, ALL MAIN SIZE SEGMENTS SAW THEIR ACTUAL VOLATILITY FIGURES DECREASE - ALLIED
Since the beginning of 2016, when the dry bulk market reached its absolute bottom, freight rates have been ever since on an upward trajectory. Taki ...
Tuesday, 18 December 18
COAL OUTLOOK BULLISH DESPITE WEAK CHINESE IMPORT DATA - HEREN, ICIS
Coal prices may appreciate over the remainder of 2018 even despite recent data showing falling imports from the world’s largest producer and ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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