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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, 21 January 22
CHINA'S POWER TRADING TARIFFS TO RISE IN 2022 - FITCH RATINGS
Rising trading volume and higher-than-benchmark tariffs in the 2022 bilateral contracts signed between Chinese power generation companies (gencos) ...
Thursday, 20 January 22
CHINESE COAL JUMPS OVER 6% ON PRE-HOLIDAY SUPPLY WORRY - REUTERS
China’s thermal coal futures soared more than 6% on Wednesday, hitting a level last seen in late November as investors grew concerned over ti ...
Thursday, 20 January 22
VIETNAM: COAL SECTOR SEES POSITIVE PROSPECT IN 2022 - VNA
With many signs of rising demand for coal in various economic sectors in 2022, the Vietnam National Coal – Mineral Industries Group (Vinacomi ...
Wednesday, 19 January 22
MARKET INSIGHT - INTERMODAL
Since the beginning of the year, we have been witnessing the BDI correcting downwards with sizable drops across all segments. Latest similar levels ...
Sunday, 09 January 22
INDONESIA MINISTER SAYS 'EMERGENCY OVER' ON COAL SUPPLY CRUNCH - REUTERS
Indonesia’s power emergency which has triggered a coal export ban is over but the government will still continue to discuss policies in this ...
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- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
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