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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, 10 July 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
The trade dispute saga continued over the past week, as new tariffs were put into force on Friday in both the U.S. and China and have already taken ...
Tuesday, 10 July 18
SUPPORTING SULPHUR 2020 CONSISTENT IMPLEMENTATION - IMO
An IMO working group is meeting (9-13 July) to develop guidelines to support the consistent implementation of the 0.50% limit for the sulphur conte ...
Monday, 09 July 18
RISING COAL PRICES LIFTING AUSTRALIA'S EXPORT REVENUES BUT INVESTORS STAYING AWAY - NEWCASTLE HERALD
Newcastle coal prices have risen more than 40 per cent in a year to be at their highest levels for seven years but the industry is becoming increas ...
Saturday, 07 July 18
SUPRAMAX: THE ASIAN MARKET STRUGGLED; A 57K-DWT WAS REPORTED FIXED BASIS DELIVERY SINGAPORE FOR A TRIP VIA INDONESIA REDELIVERY INDIA AT $12K
Capesize
A punchy week for the big ships that saw Atlantic rates soar, with the tonnage list tight prompting charterers to split cargoes, thoug ...
Friday, 06 July 18
COAL PRICES HAVE REMAINED STRONG BUT ARE SET TO DECLINE - NAB
Coal spot prices have been highly volatile in recent years, with an upward trend since recent lows in April 2018, National Australia Bank says in i ...
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- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Australian Coal Association
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
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