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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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Saturday, 23 July 22
STABILITY OF RUSSIAN GAS FLOWS REMAIN UNCERTAIN, DESPITE THE REOPENING OF NORD STREAM - WOOD MACKENZIE
Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per da ...
Friday, 22 July 22
MARKET INSIGHT - INTERMODAL
Faced with uncertainty regarding the most cost-efficient alternative fuels and the future dominant method to reduce their greenhouse emissions, man ...
Friday, 22 July 22
YANCOAL AUSTRALIA CUTS 2022 COAL OUTPUT VIEW AS FLOODS, COVID BITE - REUTERS
Coal miner Yancoal Australia Ltd YAL.AX cut its 2022 output forecast on Wednesday, signalling a hit from higher-than-expected rainfall, COVID-19-le ...
Wednesday, 20 July 22
BOOST FOR BIOFUELS AS IMO REMOVES REGULATORY HURDLE - GARD
MARPOL Annex VI regulations were written for petroleum derived fuels but also apply to biofuels. It has been a challenge to meet the regulatory req ...
Wednesday, 20 July 22
INDONESIA’S COAL EXPORTS TO THE EU INCREASED SIGNIFICANTLY RECENTLY
European countries have increased coal imports from Indonesia due to the energy crisis that hit the region after Russia cuts gas exports to Europe. ...
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- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- The University of Queensland
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- PTC India Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
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