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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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Tuesday, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
Friday, 25 November 22
APAC THERMAL COAL PRICES CORRECT FROM RECORD HIGH - FITCH RATINGS
Prices of Newcastle 6,000kcal/kg coal have corrected following falling European gas and coal prices, and more supply from Australia could help miti ...
Thursday, 24 November 22
VIETNAM BOOSTS COAL USE PLAN FOR 2030 AS G7 CLIMATE OFFER STALLS - REUTERS
Vietnam has increased its coal power target for 2030 under a revised draft energy plan, government documents seen by Reuters show, while renewables ...
Tuesday, 22 November 22
THE GENCON 2022 CHARTERPARTY - GARD
KNOWLEDGE TO ELEVATE
BIMCO has published a revamped version of the popular GENCON charterparty. Our author, Helena Biggs, was a member of the ...
Tuesday, 22 November 22
INDIA POWER BINGES ON COAL, OUTPACES ASIA - REUTERS
India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine ...
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- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Cement Manufacturers Association - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
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