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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, 24 October 18
CHINESE POWER PLANT STOCKPILES AT HIGHEST LEVEL SINCE 2015 - JEFFREY LANDSBERG
Chinese power plant coal stockpiles have climbed to approximately 83.3 million tons as of the middle of this month, said Jeffrey Landsberg in his e ...
Tuesday, 23 October 18
WILL THE U.S. COAL DECLINE CONTINUE? - FORBES
What’s Trump’s new coal proposal?
Adding to its controversial plan to leverage federal authority to keep retiring baselo ...
Monday, 22 October 18
CONTINUED HIGH LNG PRICES; TRADE WAR IMPACT LIMITED - FITCH RATINGS
Fitch Ratings expects sustained high spot liquefied natural gas (LNG) and contract prices over the next two quarters on limited investment in LNG e ...
Monday, 22 October 18
WINTER OIL MARKET OUTLOOK - OPEC
The oil market in the winter season is generally characterized by demand for diesel, particularly in the northern hemisphere, leaving product marke ...
Saturday, 20 October 18
PANAMAX: THE PACIFIC SAW A LARGE VOLUME OF FIXING, WITH INDONESIA AGAIN THE DRIVING FORCE - THE BALTIC BRIEFING
Capesize
A positive end to last week after a shaky start, with a Coaltrans taking participants out of the market early on and with rates slippi ...
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- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
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