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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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- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
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