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