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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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Saturday, 22 September 18
SHIPOWNERS URGENTLY NEED A FUEL-MANAGEMENT PLAN - METTE KRONHOLM FRAENDE, BIMCO
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes ...
Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine th ...
Saturday, 22 September 18
FITCH RATINGS: WORLD GROWTH FORECAST CUT ON US-CHINA TRADE BATTLE
Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook, with th ...
Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like f ...
Monday, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
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- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
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