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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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Saturday, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
VLCC
Escalating tensions between the USA and Iran, in addition to a continuing strong market, made for an interesting week, with rates firming ...
Saturday, 11 January 20
SUPRAMAX: INDONESIA COAL RUNS, A 58,000DWT SHIP WAS RUMOURED FIXED DELIVERY KALIMANTAN, REDELIVERY WEST COAST INDIA, IN THE $4,000S - BALTIC BRIEFING
Capesize
Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction. Opening ...
Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
...
Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
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- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
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