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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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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- The University of Queensland
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
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