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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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Friday, 30 November 18
GOVT MULLS REQUIRING MINERS TO TURN COAL INTO GAS - THE JAKARTA POST
The government is considering requiring all coal miners to turn the raw commodity into dimethylether (DME) as a substitute for liquefied petroleum ...
Friday, 30 November 18
SUPRAMAX: N. CHINA TO INDIA OR SE ASIA SUPRAS ARE GETTING PAID AROUND US$ 6000 - FEARNLEYS
Capesize
Sharp rise in spot activity and income, admittedly from very low levels, for the big ships. West Australia/China and Brazil/Far East b ...
Thursday, 29 November 18
NEW IMSBC CODE REQUIREMENTS AIM TO CONTROL LIQUEFACTION OF COAL CARGOES - GARD
KNOWLEDGE TO ELEVATE
The International Maritime Solid Bulk Cargoes (IMSBC) Code describes coal as a natural, solid, combustible material consi ...
Wednesday, 28 November 18
SHIPPING MARKET INSIGHT - GEORGE LAIOS
Last week I had the privilege to attend the SingularityU Greece Summit, in Athens. It was a privilege because you do not often have the chance to s ...
Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
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- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Romanian Commodities Exchange
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
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