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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, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
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- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Chamber of Mines of South Africa
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