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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, 26 July 22
CAP RUSSIA'S OIL PRICE NOW - PROJECT SYNDICATE
Though the price of oil has declined in recent weeks, it is still through the roof, filtering through to gasoline prices, and causing economic and ...
Tuesday, 26 July 22
WILL SOUTH AMERICA’S WINTER DEMAND DRAW LNG CARGOES AWAY FROM EUROPE? - ICIS
South America is now in the middle of its winter demand season. Last year the region increased its share of global LNG imports in winter, with Braz ...
Monday, 25 July 22
GLOBAL 2021 COAL-FIRED ELECTRICITY GENERATION SURGES TO RECORD HIGH - REUTERS
By contrast, mine output was still fractionally below the record set between 2012 and 2014 because older and less efficient coal generators have be ...
Saturday, 23 July 22
THE EU HAS BEEN REDUCING IMPORTS OF RUSSIAN REFINED OIL PRODUCTS SINCE MARCH - BANCHERO COSTA
The European Union could now ban the import and transit of fuel oil from Russia around six months ahead of the planned deadline, an EU official and ...
Saturday, 23 July 22
INDONESIA CONSIDERING SCRAPPING DOMESTIC SALES RULE FOR PALM OIL EXPORTS - REUTERS
Indonesia is considering removing a domestic sales requirement for palm oil exports because high inventories of the vegetable oil have been holding ...
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- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
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