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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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Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
Australia is bearing the brunt of China’s year-end coal import restrictions, ceding market share to other exporters including Russia and Mong ...
Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
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Showing 1221 to 1225 news of total 6871 |
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- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Parliament of New Zealand
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