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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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Thursday, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
Capesize
The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
...
Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
The ...
Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
Wednesday, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do ...
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- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Planning Commission, India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
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