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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
INVESTMENT IN GLOBAL COAL SUPPLY CHAIN TO HIT $115 BN IN 2022, LED BY CHINA AND INDIA - BUSINESS LINE
At over $80 billion, China and India are anticipated to make up the bulk of global coal investment in 2022, says IEA.
The investment ...
Wednesday, 29 June 22
LNG MARKET REMAINS TIGHT - INTERMODAL
LNG market remains tight currently, mainly driven by the US LNG outage from the recent fire in Freeport LNG terminal together with the recent fall ...
Wednesday, 29 June 22
CHINA'S NEW PLAN FOR RENEWABLE ENERGY DEVELOPMENT FOCUSES ON CONSUMPTION - FITCH RATINGS
China’s focus on consumption penetration for renewable energy development in its recently released 14th five-year plan – 2021 to 2025 & ...
Wednesday, 29 June 22
APAC CORPORATE SECTOR OUTLOOKS SHIFT AMID GLOBAL SHOCKS - FITCH RATINGS’
Fitch Ratings’ mid-2022 corporate sector outlook review revealed that the Asia-Pacific (APAC) region saw the largest number of sector outlook ...
Thursday, 16 June 22
MARKET INSIGHT - INTERMODAL
Picking up from my last insight in March, on the early days of the invasion, it's worth pointing out the way that the fast-paced working enviro ...
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- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Posco Energy - South Korea
- The University of Queensland
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
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