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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 December 22
MARKET INSIGHT - INTERMODAL
China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if t ...
Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scramble ...
Tuesday, 06 December 22
INDIA'S COAL PRODUCTION RISES 17% IN APR-NOV PERIOD - PTI
The country’s coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal.
...
Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
Indonesia aims to establish a coal fund agency and start collecting a coal levy in the first quarter next year, to help ensure supply security for ...
Saturday, 03 December 22
COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
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- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
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