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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, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
Thursday, 26 May 22
MARKET INSIGHT - INTERMODAL
The newbuilding market activity has been significantly positive from a dry bulk owner perspective during the first half of 2022. Indeed, the contra ...
Wednesday, 18 May 22
INDONESIAN COAL PRICE REFERENCE DROPPED 4.42% IN MAY
COALspot.com: Indonesian Coal Price Reference for May delivery drops 4.42 per cent month on month.
The Indonesian Coal Price Referen ...
Thursday, 12 May 22
MARKET INSIGHT - INTERMODAL
Almost through half of the year, the overall shipping market continues to show signs of healthiness, after plenty of festivities and holidays that ...
Wednesday, 27 April 22
EUROPEAN UNION'S LNG IMPORTS - BANCHERO COSTA
In 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share.
It followed Mainla ...
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- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Planning Commission, India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
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