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Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
 Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructure investments and steady auto demand from supportive policies. However, a yoy decline is inevitable, while potential policy changes around Covid-19 pandemic restrictions and property developer funding may alter current expectations.
Basic materials demand remained weak in 3Q22, in line with our expectation. The weakness continued in July and August due to seasonally low demand. However, a recovery in September was driven by steady manufacturing investment and rising infrastructure activity, which offset lower property investment. Meanwhile, prolonged Covid-19 related restrictions continued to pressure demand.
Commodity prices decreased during 3Q22, while margin trends differed among sectors. Steel saw a sharp drop in the average selling price (ASP) to close to pre-pandemic levels, driven by a weak market and flow through from lower raw material prices. The margins of steel makers recovered to breakeven levels, from a loss-making position at end-2Q22, as iron ore and coking coal prices corrected.
Cement ASP declined over July-August due to seasonality and weak fundamentals, despite continued output cuts. The ASP recovered in September, but remained much lower on a yoy basis. Strong coal prices saw cement producers’ margins weaken, particularly in September, driven by the need to prepare for heating in winter and recovering demand in downstream sectors.
Source: Fitch Ratings
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Tuesday, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
Friday, 25 November 22
APAC THERMAL COAL PRICES CORRECT FROM RECORD HIGH - FITCH RATINGS
Prices of Newcastle 6,000kcal/kg coal have corrected following falling European gas and coal prices, and more supply from Australia could help miti ...
Thursday, 24 November 22
VIETNAM BOOSTS COAL USE PLAN FOR 2030 AS G7 CLIMATE OFFER STALLS - REUTERS
Vietnam has increased its coal power target for 2030 under a revised draft energy plan, government documents seen by Reuters show, while renewables ...
Tuesday, 22 November 22
THE GENCON 2022 CHARTERPARTY - GARD
KNOWLEDGE TO ELEVATE
BIMCO has published a revamped version of the popular GENCON charterparty. Our author, Helena Biggs, was a member of the ...
Tuesday, 22 November 22
INDIA POWER BINGES ON COAL, OUTPACES ASIA - REUTERS
India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine ...
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- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
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