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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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Tuesday, 16 October 18
A PRACTICAL OVERVIEW OF THE IMO 2020 SULPHUR CAP - CLYDE&CO
KNOWLEDGE TO ELEVATE
With less than eighteen months before Regulation 14.1.3 of Annex VI of the MARPOL Convention comes into effect, there are ...
Saturday, 13 October 18
SUPRAMAX: SIGNIFICANT ACTIVITY IN THE INDIAN OCEAN WAS EVIDENT AND RATES JUMPED - BALTIC BRIEFING
Capesize
A sharp reversal of fortunes for the big ships as the week closed after a depressed beginning. To start with drops were sudden, with t ...
Wednesday, 10 October 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
During the end of last month the BHSI was hovering around 630 points, while the last observed sale on a 10-yr old Japanese Handy was the M/V Van Im ...
Monday, 08 October 18
INDONESIAN THERMAL COAL PRICE REFERENCE FELL 3.74% IN OCTOBER 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 08 October 18
KOMIPO INVITES BIDS FOR 520,000 TONS OF COLOMBIAN ORIGIN OF 5,700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Colombian origin ...
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- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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