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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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Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
Thursday, 22 November 18
SHUT OUT OF CHINA, U.S. COAL EXPORTERS FIND FAVOUR IN INDIA, FOR NOW - REUTERS
U.S. coal exporters have effectively lost a promising market in China since the imposition of tariffs as part of the ongoing trade dispute, but so ...
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- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Economic Council, Georgia
- Planning Commission, India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
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