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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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Thursday, 30 June 22
FINANCIAL GAINS SUPPORT COAL TRANSITION - BALTIC EXCHANGE
Support for the shift away from coal dependency continues to mount, with the International Monetary Fund (IMF) calculating that the move would gene ...
Thursday, 30 June 22
WHY ARE LNG SHIPPING STOCKS RESILIENT? - DREWRY
LNG shipping stocks are proving resilient despite uncertainties about growth in global GDP, high inflation and the ongoing geopolitical crisis caus ...
Thursday, 30 June 22
SPOT AUSTRALIAN THERMAL COAL HAS SURGED, BUT CONTRACT PRICE IS KEY - REUTERS
The spot price of Australian thermal coal is higher than that of coking coal, an unprecedented situation that highlights just how the global market ...
Thursday, 30 June 22
SHANXI PROVINCE RAISES ANNUAL COAL OUTPUT TO 1.3 BILLION TONS TO ENSURE CHINA’S ENERGY SUPPLY - GLOBAL TIMES
North China’s Shanxi Province, a major coal-producing region, recently announced a move to increase its annual coal production output by 107 ...
Thursday, 30 June 22
DIVERGENCE BETWEEN HIGH- AND LOW-GRADE THERMAL COAL PRICES IN APAC TO NARROW - FITCH RATINGS
Prices between high- and low-grade thermal coal in Asia-Pacific (APAC) have diverged since late March 2022, but Fitch Ratings expects the gap to na ...
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- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Attock Cement Pakistan Limited
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