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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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Friday, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
Tuesday, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
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- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- PTC India Limited - India
- Independent Power Producers Association of India
- Planning Commission, India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
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