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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, 11 June 18
AUSTRALIAN COAL PRICES HIT 6-YEAR HIGH AS ASIA DEMAND SPIKES - REUTERS
Australian thermal coal prices have risen to their highest level since 2012 as hot weather across North Asia spurs buying ahead of the peak summer ...
Monday, 11 June 18
ANALYSING A NEW AGE OF AUTONOMOUS VESSELS - IMO
The International Maritime Organization answers the questions of Government Europa on how the next generation of autonomous vessels can be regulate ...
Friday, 08 June 18
AUSTRALIAN THERMAL COAL PRICES SURGE AS ASIA DEMAND HEATS UP - REUTERS
Australian thermal coal prices have hit their highest level since late 2016 as the market heats up on strong demand across North Asia and China in ...
Wednesday, 06 June 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
As observed last month the price of oil hit its highest level since November 2014 reaching $80 per barrel. Global oil demand growth for 2018 was sl ...
Tuesday, 05 June 18
SOUTH KOREA'S SULPHUR CAP ALTERS ASIAN COAL MARKET DYNAMICS: RUSSELL
South Korea’s imposition of a strict sulphur cap on its imported coal is likely to cause ripples across Asia’s markets for the pollutin ...
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- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Planning Commission, India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
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