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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, 13 July 22
MARKET INSIGHT - INTERMODAL
Taking the previous market insight a step further, market sentiment remains bullish regarding the overall ROI of scrubbers, facing tailwinds from a ...
Friday, 08 July 22
AUSTRALIAN COAL PRICE BREAKS AGAIN LEVEL US$ 400/TON!, UP AROUND 4% - CNBC INDONESIA
Coal prices shot up again and crossed the level of US$ 400 per ton. On Thursday (7/7/2022) trading, the selling price of August contract closed at ...
Friday, 08 July 22
INDONESIA MULLS MORE FREQUENT SETTING OF CRUDE PALM OIL REFERENCE PRICE - REUTERS
Indonesia is considering setting its crude palm oil (CPO) export reference price every two weeks instead of monthly, a senior trade ministry offici ...
Friday, 08 July 22
BUNKER PRICES EXPECTED TO RECOVER LOST GROUND NEXT WEEK - SERGEY IVANOV, MABUX
Over the Week 27, the world bunker indices showed a sharp decline, primarily due to the fall in oil prices on July 05. The 380 HSFO index fell by 5 ...
Thursday, 07 July 22
NTPC MINES 61% MORE COAL AT 4.22 MN METRIC TONNES IN APRIL-JUNE: PTI
State-owned power giant NTPC on Tuesday said that its coal output grew by 61 per cent to Rs 42.40 lakh metric tonnes in April-June quarter from 26. ...
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- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
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- Indian Energy Exchange, India
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- Parliament of New Zealand
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- White Energy Company Limited
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- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
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- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
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- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
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- Deloitte Consulting - India
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- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- India Bulls Power Limited - India
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- The University of Queensland
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- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
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- Mintek Dendrill Indonesia
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- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
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- Coalindo Energy - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
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- Singapore Mercantile Exchange
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- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
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- Indonesian Coal Mining Association
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- Wilmar Investment Holdings
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- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
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- Bharathi Cement Corporation - India
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- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
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- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- PTC India Limited - India
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- Therma Luzon, Inc, Philippines
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- Semirara Mining and Power Corporation, Philippines
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- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
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- IEA Clean Coal Centre - UK
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- Directorate General of MIneral and Coal - Indonesia
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- Global Coal Blending Company Limited - Australia
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- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
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