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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, 04 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
Dry bulk freight rates rebounded last week, a development that came as a relief following the recent negative sentiment that prevailed in the marke ...
Wednesday, 04 December 19
INDONESIA REVIEWING RULES MANDATING COAL SALES TO LOCAL BUYERS: OFFICIAL - REUTERS
Indonesia is reviewing rules that require coal miners to sell a portion of their coal to local buyers, a government official said on Monday, as sup ...
Tuesday, 03 December 19
STABILITY AND COMPATIBILITY OF VERY LOW SULPHUR FUEL OILS - GARD
In order to meet increasing restrictions on the sulphur content in marine fuel as defined by MARPOL Annex VI Regulation 14.1.3, the characteristics ...
Monday, 02 December 19
COAL PRODUCTION IN INDIA UP BY 164.58 MT IN 5 YEARS - BUSINESS LINE
Raw coal production in the country has increased from 567.77 million tons (MT) in 2013-14 to 730.35 MT in 2018-19, Union Coal and Parliamentary Aff ...
Monday, 02 December 19
OPEC PREPS FOR OIL'S 2020 BALANCING ACT - WOOD MACKENZIE
What steps should OPEC and its non-OPEC partners take to keep the market in balance in 2020? Ahead of OPEC’s meeting in Vienna on 5 and 6 Dec ...
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- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Planning Commission, India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
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