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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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Sunday, 18 November 18
COAL STOCKS IN A THIRD OF NTPC PLANTS CLOSE TO NIL - FINANCIAL EXPRESS
Coal supply shortage continues to haunt NTPC, the country’s largest power generator, with latest government data showing 31% of the company&r ...
Thursday, 15 November 18
OIL MARKET REPORT: HEEDING THE WARNINGS - IEA
In last month’s Report, we noted that since the middle of the year oil supply had increased sharply, with gains in the Middle East, Russia an ...
Wednesday, 14 November 18
BIMCO ADOPTS 2020 BUNKER CLAUSES
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
...
Wednesday, 14 November 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The shipping industry is going through an interesting period across all markets. Since the end of last year, the Dry Baltic Index has been showing ...
Tuesday, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power ...
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- Australian Coal Association
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
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