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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, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
Wednesday, 04 December 19
FITCH RATINGS: CASH FLOW GENERATION TO SLOW DOWN FOR INDONESIAN COAL MINERS
Fitch Ratings' negative outlook on the Indonesian coal-mining sector reflects our view of weaker cash flow generation on account of declining c ...
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- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- ASAPP Information Group - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
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