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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, 04 April 17
THE IRON ORE HAS BEEN ABLE TO KEEP ITS GROWTH PATH FAIRLY WELL; THERE IS STILL ONE PART OF THE WORLD THAT IS STILL HEAVILY COMMITTED TO COAL
With the close of March having let us with a very positive after taste and having witnessed near the end of the month the Baltic Dry Index at its h ...
Monday, 03 April 17
WORLD COAL TRADE STABLE IN 2016: DEMAND SHIFTS TO SOUTH-EAST ASIA - ASSOCARBONI
ASSOCARBONI: Coal confirmed as the leading fuel for electricity generation, accounting for 40% of overall production in 2016.
World coal trade ...
Monday, 03 April 17
DRY BULK RATES CONTINUING TO FIRMING UP
COALspot.com: The Freight market was continuing to firming up. Baltic Panamax Index rose 12.81 percent week over week.
The Baltic Exchang ...
Friday, 31 March 17
U.S. COAL PRODUCTION INCREASE SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 30 March 17
WHERE AN AGREEMENT FAILS TO DELIVER - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
Watson Farley & Williams acted for MRI Trading AG in a leading case on ‘agreements to agree’ that was fin ...
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- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- MS Steel International - UAE
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
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