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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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Wednesday, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...
Wednesday, 13 October 21
FBX INDEX: THE IMPOSSIBILITY OF SHORT-TERM FORECASTING - LARS JENSEN
Will freight rates on Asia-Europe or the Transpacific reach 40.000 USD/FFE in the run-up prior to Chinese New Year 2022? Or will they start droppin ...
Wednesday, 13 October 21
CHINA FLOODS: COAL PRICE HITS FRESH HIGH AS MINES SHUT - BBC
The price of coal used in China’s power plants has surged to a new record high as another of the country’s key mining regions is hit by ...
Tuesday, 12 October 21
BUMA SIGNS CONDITIONAL AGREEMENT FOR AUSTRALIAN ASSET ACQUISITION
PT Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, through its newly incorporated Australian subsidiary, BUMA International Pty ...
Tuesday, 12 October 21
INDONESIA'S COAL-BASED POWER PLANTS ARE SUBJECT TO CARBON TAX NEXT YEAR, ELECTRICITY COSTS COULD RISE! - CNBC
The Indonesian government is planning plans to implement a carbon tax of IDR 30 per kilogram (kg) of carbon dioxide equivalent (CO2e) or equivalent ...
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- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
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