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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
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