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Thursday, 24 March 16
PERSISTENT OVERCAPACITY TO PROLONG CHINA'S COAL SECTOR DOWNTURN - FITCH
 China's coal sector is likely to remain under pressure in the short to medium term as structural weaknesses in demand and overcapacity persist, says Fitch Ratings in a new report. Fitch expects the overall financial health of the sector to weaken further over the next two years.
Fitch estimates that the Chinese coal sector will have up to 3.3 billion tonnes of excess capacity within the next two years, versus declining annual consumption of less than 4 billion tonnes per annum for the past two years. This calculation is based on 1.4 billion tonnes of existing idle capacity at end-2014, plus up to another 1.9 billion tonnes of capacity under construction - based on historical fixed-asset investments (FAI) in the sector.
The central government is taking steps to reduce capacity in the industry. This includes the State Council's capacity phase-out target of 500-1,000m tonnes in the next three to five years and the establishment of the Industrial Company Structural Adjustment Special Fund, which aims to address layoff problems in oversupplied industries. However, the phase-out target is less than one-third of the likely excess capacity in the system. In addition, we think that implementation of the phase-out target is likely to be slow. This is because local governments - which control state-owned coal producers accounting for around half of the country's coal production - need to balance phase-out measures against issues of social stability.
At the same time, demand for coal in China has been reduced by economic rebalancing towards more sustainable and less energy-intensive growth, and curbs on polluting industries. Coal consumption fell in 2014 for the first time in this century. Overcapacity in the seaborne market puts further pressure on Chinese coal prices.
Fitch expects an increasing number of coal producers to fall into financial.
The sector's financial leverage, which is already high due to aggressive debt-funded capital expenditure in prior years, could rise further as weak profitability and high interest expenses erode coal producers' FCF generation. Miners enjoying economies of scale, a higher degree of vertical integration, and good access to high-quality and low-cost mines are likely to survive and benefit from industry consolidation, while those lacking cost advantages and funding access will be forced to exit.
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Monday, 04 April 16
INDONESIA CS57 COAL INDEX SLIDES SLIGHTLY WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.07 percent week over week to averaging $38.88 per ton on this past Friday, ac ...
Monday, 04 April 16
CAPE INDEX JUMPED 70% WEEK ON WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 01 April 16
ASSESSING THE DRY BULK MARKET AT ROCK BOTTOM - CLARKSONS
While the opening months of the year are typically a weak period for the dry bulk market, the downturn so far this year has been severe. Earnings h ...
Friday, 01 April 16
NINE AM - TIME TO GET AN INDONESIAN LANGUAGE VERSION OF YOUR CHARTERPARTIES - CLYDE & CO
KNOWLEDGE TO ELEVATE
For several years, Indonesian law (Article 31, Law Number 24 of 2009) has required that memoranda of understanding (" ...
Friday, 01 April 16
U.S. COAL PRODUCTION UP SLIGHTLY WEEK OVER WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.6 million shor ...
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- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
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