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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 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher price ...
Saturday, 06 August 22
GERMANY'S ENERGY U-TURN: COAL INSTEAD OF GAS - DEUTSCHE WELLE
Berlin has realized it will never again import as much energy from Russia as before the Ukraine war. So the challenge is to wean Germany off its de ...
Saturday, 30 July 22
NUANCES OF FORCE MAJEURE CLAUSE - BALTIC EXCHANGE
Knowledge to Elevate
In NKD Maritime Limited v. Bart Maritime (No 2) Inc (Shagang Giant) [2022] EWHC 1615 (Comm), Bart Maritime (No 2) Inc (th ...
Saturday, 30 July 22
AEMO URGES QUICKER SHIFT TO RENEWABLES AMID COAL FAILURES AND SOARING FOSSIL FUEL COSTS
The Australian Energy Market Operator has called for an accelerated shift to wind and solar, backed up by batteries and other storage, as a devasta ...
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- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- PTC India Limited - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
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