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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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Friday, 06 July 18
HOW FLEET SIZE, CORPORATE PROFILE AND STRATEGY ARE DECIDING FACTORS IN SELECTING AN APPROPRIATE FINANCING STRATEGY - PWC
KNOWLEDGE TO ELEVATE
The challenges that shipping companies are facing when selecting an appropriate financing strategy during the current per ...
Friday, 06 July 18
INDIA: GOVT TO RELAX CURBS ON INDIAN FIRMS CHARTERING FOREIGN SHIPS - HINDU BUSINESS LINE
The Ministry of Shipping is clearly in reform mode. On the heels of the recent relaxation of the cabotage law, which allows foreign flag vessels to ...
Friday, 06 July 18
AUSTRALIAN NEWCASTLE SPOT COAL PRICES HIT $120 FOR 1ST TIME SINCE 2012 - REUTERS
Australian thermal coal prices have broken through $120 per tonne for the first time since 2012, driven up by strong consumption in Asia and spot m ...
Thursday, 05 July 18
WHAT THE FAILED GLENCORE-TOHOKU COAL TALKS MEAN FOR THE MARKET - REUTERS
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan’s Tohoku Elec ...
Thursday, 05 July 18
INDONESIAN COAL PRICE REFERENCE HITS 74 MONTHS HIGH OF $104.65 A TON
COALspot.com: HBA keeps rising. According to latest ministerial decree No.1892 K/30/MEM/2018 dated 2 July 2018, the Indonesian Coal Price Reference ...
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- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
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