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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, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 25 March 16
DRY BULK SHIPPING FLEET WILL GROW BY 1.3% DURING 2016 - BIMCO | HELLENIC SHIPPING NEWS
The dry bulk market will keep on suffering, at least until the start of 2017 and possibly well after that, should the current balance of supply and ...
Friday, 25 March 16
U.S COAL PRODUCTION DECLINED 9.1% W/W - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million shor ...
Thursday, 24 March 16
SEABORNE TRADE: CHECKING UP ON THE TRENDS - CLARKSON RESEARCH
Following a decline in 2009, seaborne trade grew on average by 4.9% p.a. in 2010-13, reflecting booming import demand in a number of key importing ...
Thursday, 24 March 16
NEWBUILDINGS' PRICES HAVE STARTED TO COME DOWN - ALLIED | HELLENIC SHIPPING NEWS
Newbuildings’ prices have started to come down, as demand has remained subdued for quite some time now. In its latest weekly report, shipbrok ...
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- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
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