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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, 07 March 18
WHEN AN IRRESISTIBLE FORCE MEETS AN IMMOVABLE OBJECT - GARD
KNOWLEDGE TO ELEVATE
Negotiable bills of lading are fundamental to trade. As documents of title, they are essential to the sale and carriage o ...
Wednesday, 07 March 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
The comparably small upside Handysize asset values have noted compared to other sizes since the historical lows of the dry bulk market in combinati ...
Tuesday, 06 March 18
FOREIGN INVESTORS ALLOWED TO BID FOR BIG MINING CONCESSIONS - THE JAKARTA POST
The government has allowed foreign investors to bid for mining concessions with a total area of more than 500 hectares, while smaller areas will be ...
Tuesday, 06 March 18
LNG VESSELS HAVE EMERGED AS THE FASTEST GROWING SEGMENT FOR THE WATERWAY - GERRY LATHROP
The day was July 25th 2016, a partly cloudy day on the Panama canal, and to most people a rather innocuous day without any real merit, however in s ...
Friday, 02 March 18
ANGLO AMERICAN COMPLETES SALE OF ESKOM-TIED THERMAL COAL OPERATIONS IN SOUTH AFRICA
Anglo American plc (“Anglo American”) confirms completion of the sale of its Eskom-tied domestic thermal coal operations in South Afric ...
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- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
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