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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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Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
Wednesday, 04 December 19
FITCH RATINGS: CASH FLOW GENERATION TO SLOW DOWN FOR INDONESIAN COAL MINERS
Fitch Ratings' negative outlook on the Indonesian coal-mining sector reflects our view of weaker cash flow generation on account of declining c ...
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- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
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- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
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- PetroVietnam Power Coal Import and Supply Company
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- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
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- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
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- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
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- Kapuas Tunggal Persada - Indonesia
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- Interocean Group of Companies - India
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- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
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