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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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Monday, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
Monday, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
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- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Posco Energy - South Korea
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Economic Council, Georgia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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