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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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Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
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Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
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- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- The University of Queensland
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