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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, 21 March 17
JAPAN'S RENEWED COMMITMENT TO COAL - BENJAMIN SPORTON
Japan is one of the largest economies in the world, and has long been a major consumer and importer of energy and a leader in energy technology dev ...
Monday, 20 March 17
IS THE DRY BULK INDUSTRY STILL ON TRACK FOR PROFITABILITY IN 2019? - PETER SAND
The industry remains well on target for profitable freight rates in 2019! This relies however, on the projected fleet supply growth rate of 0% in 2 ...
Friday, 17 March 17
U.S WEEKLY COAL OUTPUT VOLUME SLIDES 6.5 PERCENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ton ...
Thursday, 16 March 17
CHINA IMPOSING TOUGHER CONTROLS ON LOW-QUALITY COAL IMPORTS
China is ramping up controls on imports of low-quality coal due to concerns about smog and overcapacity in the world’s top coal consumer, a g ...
Thursday, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
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- Wood Mackenzie - Singapore
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- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
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- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
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- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
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- Minerals Council of Australia
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- Straits Asia Resources Limited - Singapore
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- Electricity Authority, New Zealand
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- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
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- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
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- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
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- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
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- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
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- Renaissance Capital - South Africa
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- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
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- Sarangani Energy Corporation, Philippines
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- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
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- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
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- Sakthi Sugars Limited - India
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- Ministry of Transport, Egypt
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- Cement Manufacturers Association - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
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- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
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- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
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- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
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- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
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