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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, 10 May 17
MARKET INSIGHT - INTERMODAL
Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in ...
Tuesday, 09 May 17
DRY BULK TRADE IS STILL HEAVILY RELIANT ON CHINA - GEORGE LAZARIDIS
We have seen an overall cool down in the dry bulk and tanker markets over the final two weeks of April, sparking worries amongst ship-owners that t ...
Monday, 08 May 17
INDONESIAN COAL PRICE REFERENCE RISES FOR SECOND STRAIGHT MONTH IN MAY
COALspot.com: Indonesian government declared coal benchmark price rose in May, government data showed.
The benchmark price of Indonesian therm ...
Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.
The Balti ...
Monday, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
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- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
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