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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, 26 November 21
CHINA FINDS COMPLIANCE PROBLEMS IN COAL PRICE INDEX PROBE - REUTERS
China’s state planner on Wednesday said it had discovered some “noncompliant” behaviour among coal price index providers as it an ...
Thursday, 25 November 21
SE ASIA POWER DEMAND TO RISE AS STATE SUPPORT MITIGATES COVID-19 IMPACT - FITCH RATINGS
Electricity demand in south-east Asia is likely to increase in 2021, following slow growth or contraction in 2020, thanks to state support that has ...
Thursday, 25 November 21
FITCH RATINGS INCREASES MOST GLOBAL METALS AND MINING PRICE ASSUMPTIONS - FITCH RATINGS
Fitch Ratings has increased most metals and mining price assumptions, particularly those that benefit from increased longer-term demand due to glob ...
Thursday, 25 November 21
CHINA'S COAL PRICE DROPS IN MID-NOVEMBER AMID GOVERNMENT’S SWEEPING MEASURES - GLOBAL TIMES
China’s coal prices have dropped significantly in mid-November compared with the beginning of the month, with the price of coking coal and co ...
Wednesday, 24 November 21
MARKET INSIGHT - INTERMODAL
Inflation is the word that has dominated the meetings of foreign leaders and finance ministers in recent weeks, as rising energy costs, supply chai ...
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- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
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- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
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- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
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- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
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- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
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- India Bulls Power Limited - India
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- Metalloyd Limited - United Kingdom
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- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Parliament of New Zealand
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- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
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- Heidelberg Cement - Germany
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- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
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- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
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