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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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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
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