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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, 09 January 20
SUPRAMAX: A NUMBER OF INDONESIAN ROUND TRIPS WERE REPORTED AT BELLOW USD 5,000 PD LEVELS - FEARNLEYS
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Wednesday, 08 January 20
VINACOMIN SETS TO SELL 49 MILLION TONNES OF COAL IN 2020 - VIETNAM NET
The Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) has set to sell 49 million tonnes of coal in 2020, a year-on-y ...
Wednesday, 08 January 20
CHINA'S COAL-RICH PROVINCE CUTS 18.95 MLN TONNES OF CAPACITY IN 2019 - XINHUA
North China’s Shanxi Province reduced its coal production capacity by 18.95 million tonnes by closing 18 coal mines in 2019.
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Wednesday, 08 January 20
JANUARY INDONESIAN COAL PRICE REFERENCE SLIPS US$ 0.37 MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- White Energy Company Limited
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