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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, 22 August 18
KOMIPO INVITES BIDS FOR 480K TONS OF BITUMINOUS COAL FOR BORYEONG POWER PLANT & SHIN BORYEONG POWER PLANTS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 480,000 mt of min. 5700 NAR coal of Australian origi ...
Wednesday, 22 August 18
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
During the most quite week of the summer period we witnessed a trade war between United States and Turkey. A battle, which started with the arrest ...
Monday, 20 August 18
SUPRAMAX: OVERALL IT WAS A POSITIVE WEEK FOR THE BSI INDEX WITH GAINS MADE - THE BALTIC BRIEFING
Capesize
A week of largely unfulfilled expectations with holidays again curbing activity. Rates remained essentially healthy, but despite bad wea ...
Friday, 17 August 18
DO ARBITRATION AGREEMENTS IN BILLS OF LADING BIND THEIR HOLDERS? - WFW
KNOWLEDGE TO ELEVATE
Bills of lading are a crucial part of the security package traditionally sought by trade finance providers.
...
Friday, 17 August 18
MALAYSIA'S MANJUNG 4 - WORLD COAL ASSOCIATION
According to the IEA’s Energy Access Outlook 2017 report, nearly all of those who gained access to electricity worldwide in the last 16 years ...
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- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
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