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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, 31 May 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
In the next episode of the oil market; The market reacts to OPEC’s production cut extension, the US shale oil producers are ruining the carte ...
Tuesday, 30 May 17
MARKET ANALYSIS - GEORGE LAZARIDIS
Despite the fair performance that has been noted in the Chinese economy over the past 5 months, we have started to see an increase in the skepticis ...
Friday, 26 May 17
MOST COAL PLANTS IN THE UNITED STATES WERE BUILT BEFORE 1990 - EIA
Coal-fired electricity generators accounted for 25% of operating electricity generating capacity in the United States and generated about 30% of U. ...
Friday, 26 May 17
U.S WEEKLY COAL OUTPUT ESTIMATE UP 6.3% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.3 million short ton ...
Wednesday, 24 May 17
LR MARKET IT SEEMS THAT EARNINGS ARE STILL UNDER PRESSURE - INTERMODAL
As we are approaching the summer season, the Clean Product market appears poised to become more challenging, either on East or West of Suez.
L ...
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- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
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