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Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
 China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world’s biggest coal buyer will likely purchase less from overseas in 2020 after a boost this year, according to analysts. With domestic production rising to a record and overall demand nearing a plateau, miners from top exporters such as Indonesia and Australia will find themselves squeezed.
China’s coal imports have raced ahead in 2019, surprising many who had predicted that the government would strictly clamp down on shipments in the later months just as it did in 2018. With economic growth at its weakest in decades amid a trade war with the U.S., import curbs were eased on the nation’s most-consumed fuel to help mitigate the pain of a slowdown.
Beijing regularly limits coal imports to buttress domestic miners amid a broader campaign to reduce the nation’s reliance on the fuel. Underpinning forecasts for lower imports in 2020 is the outlook for rising domestic supply as China promotes bigger and more efficient mining operations.
“New supply will create a coal glut,” said Michelle Leung, an analyst with Bloomberg Intelligence. That’s likely to cut China’s net imports by 8% in 2020 and hurt profitability of miners in Australia and Indonesia, she added.
China bought 299 million tons of coal for power and steel in the first 11 months, 10% higher than year-ago levels and a record for the period. It’s on course to exceed a 200 million- to 300 million-ton range touted by an industry official as necessary to support domestic miners and maintain balanced trade with exporting nations.
With more local supply to come in 2020, Chinese import controls will be a lasting feature and lead to a 25 million-ton drop in thermal coal purchases next year, Morgan Stanley estimates. The cutback will offset demand growth elsewhere in Asia, and seaborne prices may extend a slump to average $66 a ton from about $79 in 2019, the bank said.
For a country that burns and produces half the world’s coal, the strength of China’s import curbs may vary depending on the government’s competing priorities of protecting domestic miners and power plants. Utilities will face added pressure from January when market reforms are expected to result in lower electricity prices, which may hit their bottom line.
“The government wants to boost the economy any way it can, and a good way to do that is to let generators get the cheapest coal,” said James Stevenson, global director for coal research at IHS Markit Ltd. “At the same time, it doesn’t want imported coal risking domestic mining jobs.”
Market Revamp
Zeng Hao, an analyst at Fenwei Energy Information Services Co., is among the few expecting China to further relax its grip on coal imports in 2020 as policy makers would be disinclined to intervene in “market-based activity” amid the slowing economy, he said.
Economists surveyed by Bloomberg this month expect China’s top leadership to set the target for economic growth at “about 6%” for 2020, which implies a continuation of the growth slowdown. The goal for this year is 6% to 6.5%.
Given the oversupply in China’s coal market, domestic prices are likely to remain at low levels next year, said Zhai Yu, a senior consultant at Wood Mackenzie Ltd. based in Beijing. That will reduce the attractiveness of overseas cargoes.
Spot coal at the main Qinhuangdao port is at a three-year low of 543 yuan a ton. A slide toward 500 yuan could motivate the government to step up restrictions on imports, he said.
Source: Bloomberg
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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Australian Coal Association
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
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