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Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking output could help offset the flattening demand from China feared in the 2020s.
China’s immense appetite for the steelmaking commodities iron ore and coal – Australia’s two top exports – helped deliver a windfall to the leading miners in 2019 as well as a timely boost to the Morrison government’s federal budget. But the latest industry and government modelling projects Chinese demand to ease in the face of lower margins, a weakening in global growth and the continuing US-China trade war.
Australian exporters of metallurgical coal – the coal used to make steel – are increasingly looking to the rapid growth of India’s steel sector to help to fill the looming demand gap and cushion the blow.
“A lot of other markets are big but mature,” BHP vice-president of market analysis Huw McKay said. “India is big but it’s barely got started.”
Coal exports were expected to feature on the agenda of Prime Minister Scott Morrison’s planned visit to India this month, but the trip was cancelled last week due to the national bushfire disaster. In its December resources report, the federal government said India was expected to become the “key source” of import growth for metallurgical coal, “offsetting a gradual easing in demand from China”.
According to projections from BHP, Indian steelmaking is on course to grow by 7 per cent a year over the 2020s.
With yearly output of more than 100 million tonnes of steel, India recently surpassed Japan to become the world’s second-biggest steelmaking country.
Dr McKay said BHP’s modelling had found China – which accounts for roughly half of global steel demand – was now in a “plateau” phase, while demand in other top steel markets Japan and South Korea was also subdued.
“The mature markets are sort of settling a little bit and India is coming up, filling a gap that would have emerged,” he told The Age and Sydney Morning Herald.
Although India has substantial reserves of iron ore, Indian steelmakers import the bulk of their metallurgical coal due to scarce domestic production. India’s government is forecasting its metallurgical coal demand to more than double in 10 years as the country plans to increase its crude steel production to 300 million tonnes by 2030.
“We don’t think they will get all the way there but they will get most of the way there,” Dr McKay said. “It’s a big, big lift.”
While forecasts of India’s long-term economic trajectory are promising, growth in the past year has been much slower than many had predicted. Observers had anticipated the nation’s economic growth would be strengthened by the re-election of Prime Minister Narendra Modi who demonstrated in his first term a focus on modernising the economy including through a clampdown on corruption, a simplification of the country’s arcane tax system, the introduction of a goods and services tax and making India a serious destination for foreign investment.
“It hasn’t really gone that way,” Dr McKay said. “They won the general election, but the economy is not purring along, it is stuttering.
India’s economy slowed for the sixth quarter in a row in the July-September quarter, with GDP growth dipping to a six-year low of 4.5 per cent.
Source: Sydney Morning Herald
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Saturday, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
VLCC
Escalating tensions between the USA and Iran, in addition to a continuing strong market, made for an interesting week, with rates firming ...
Saturday, 11 January 20
SUPRAMAX: INDONESIA COAL RUNS, A 58,000DWT SHIP WAS RUMOURED FIXED DELIVERY KALIMANTAN, REDELIVERY WEST COAST INDIA, IN THE $4,000S - BALTIC BRIEFING
Capesize
Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction. Opening ...
Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
...
Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
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- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
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