FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Moody’s Investors Service expects “very weak” second-quarter earnings in the U.S. coal sector because of falling electricity demand amid the coronavirus pandemic, saying it sees 2020 coal consumption by power utilities shrinking more than 30%.“The U.S. coal industry has weakened after taking the brunt of lower electricity demand and is now highly vulnerable to resurgent coronavirus infections that could further reduce demand for coal in a downside scenario,” Moody’s said in a July 15 note.Meanwhile, coal export prices continue to weaken, with the firm noting that global steel production, which depends heavily on metallurgical coal as an input, fell about 5% through May.Moody’s also noted that it took negative ratings actions in the first half on most of the North American coal producers it covers, with a couple of exceptions.“Only the low-cost, met-focused producers such as Arch Resources Inc. (Ba3 stable) and Warrior Met Coal Inc. (B2 positive) have not experienced a recent downgrade to long-term ratings nor an outlook revision, as they have fundamentally stronger discretionary cash flow generation than their peers — free cash flow before considering dividends and expansionary capital spending,” Moody’s wrote.The U.S. coal sector has been hit by a wave of bankruptcies driven in part by the pandemic and competition from other energy sources such as gas and renewables. Coal has also fallen out of favor in some jurisdictions as governments and consumers push for lower-carbon alternatives. Moody’s projected that aggregate EBITDA for rated U.S. coal producers would slump by about 50% in 2020 and said the sector faces further downgrades if the pandemic significantly worsens.[Kip Keen]More ($): Moody’s expects US coal producers to report ‘very weak’ Q2’20 earnings Moody’s: U.S. utility sector coal consumption could fall more than 30% in 2020
Liverpool manager Brendan Rodgers has confirmed captain Steven Gerrard will miss the next four to six weeks with a hamstring injury. The England skipper limped out of Saturday’s 4-1 win over West Ham with the problem and Rodgers on Thursday confirmed that the 33-year-old will not play again until the new year. “Steven is, as reported, probably going to be up to about four weeks or so,” Rodgers told Liverpool’s official website. Press Association “So he’ll go through an extensive treatment programme over the next numbers of weeks and hopefully we can get him back that little bit sooner. “But certainly at this stage, it was a four to six-week injury and we’ll see how we look with that.” If Gerrard misses the minimum four weeks then Liverpool will be without his services for clashes against Tottenham, Cardiff, Manchester City, Chelsea, Hull and Stoke, as well as their FA Cup clash against either Oldham or Mansfield. Rodgers did add that Jordan Henderson, who hurt his ankle in a Kevin Nolan challenge last weekend, had been training without problem.