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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, 04 November 21
FASTER DECARBONISATION: BACK TO BASICS FOR THE MINING INDUSTRY? - WOOD MACKENZIE
To the uninitiated, rugby is a technical and complicated game. As young schoolboys it was all a wee bit confusing and we invariably ended up on the ...
Wednesday, 03 November 21
CHINA TO LAUNCH NEW DATA MONITORING SYSTEM, TARGETING COAL MARKET SPECULATION, HOARDING - GLOBAL TIMES
China’s top economic planner announced on Sunday a new data system for supervising the implementation of medium- and long-term contracts of c ...
Wednesday, 03 November 21
CHINA’S STATE PLANNER SAYS COAL SUPPLY IMPROVING, PRICES STABILISING - REUTERS
China’s coal supply situation has seen significant improvement with joint efforts from coal producers, logistics and downstream users, while ...
Wednesday, 03 November 21
HIGHER COKING COAL PRICES TO PARE PROFITABILITY OF STEELMAKERS IN SECOND HALF OF FY22 - CRISIL RATINGS
The operating margin of primary steelmakers will reduce by a third to 24-26% in the second half of this fiscal versus the first half as input cost ...
Wednesday, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
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- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Australian Coal Association
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
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