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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Australian Coal Association
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
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