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Thursday, 03 March 16
INDIA'S BUDGET NOT ENOUGH TO BOOST STEELMAKERS' PROFITABILITY - FITCH RATINGS
 COALspot.com: Fitch Ratings says that increase in proposed infrastructure spending in India's latest government budget is unlikely to provide a boost to domestic steel demand growth, unless project execution rates pick up significantly. Domestic steel producers also face overcapacity, which is likely to weigh on their profitability and credit metrics in the near term.
The budget plans to increase capex on infrastructure (roads, railways and shipping) in the financial year ending March 2017 (FY17) by 23% to INR2.3trn. For FY16, the government had budgeted for infrastructure investment to double from actual spending in FY15. However, except for a pick-up in road construction (up 36% yoy in 1HFY16), project implementation appears to have been weak so far in FY16.
Private-sector investment has also remained weak, given the stretched corporate balance sheets. As a result, steel demand growth in India has remained soft at 4.7% yoy in 9MFY16. We expect steel demand growth to improve slightly to 7%-8% in FY17, supported by a pick-up in government infrastructure spending with better project execution.
However, the steel industry is burdened by overcapacity. Domestic capacity is scheduled to jump by about 15 million tonnes over the 2HFY16-FY17 period, which will exceed a potential 6 million tonne increase in domestic steel demand in FY17. At the same time, global supply continues to outstrip demand. Given the supply-demand growth mismatch, producers are likely to engage in price competition amid weak utilisation levels. Therefore, a recovery in sales realisation and profitability for Indian steelmakers is unlikely before FY18.
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Wednesday, 24 February 16
PRIVATE EQUITY FUNDS LOOKING TO EXIT SHIPPING, MOST NOTABLY DRY BULK, AS OVERORDERING HAS RESULTED IN EXCESS TONNAGE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The injection of more than $13 billion in shipping from various private equity funds over the past few years has resulted in what many feared would ...
Wednesday, 24 February 16
THIRTEEN - NOT ALWAYS AN UNLUCKY NUMBER? - CLARKSONS
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at t ...
Monday, 22 February 16
4200 GAR COAL INDEX SETTLES AT $27.02, DOWN 0.07% FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.17 percent week over week to averaging $38.89 per ton on this past Friday, ...
Monday, 22 February 16
FREIGHT MARKETS PICKED UP SLIGHTLY THIS PAST WEEK
COALspot.com: The freight markets picked up slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of gl ...
Friday, 19 February 16
INDONESIAN HBA HITS A NEW LOWS BELOW $51 A TON AS OVERSUPPLY, LOW DEMAND WOES PERSIST
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016. HBA has slumped second time t ...
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- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Central Electricity Authority - India
- Ministry of Mines - Canada
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
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