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Tuesday, 09 December 14
PRESSURE ON CHINA COAL MINERS TO CONTINUE DESPITE GOVERNMENT SUPPORT - FITCH
 COALspot.com: Fitch Ratings says that Chinese coal mining companies will continue to be pressured by low prices, which will persist despite recent government measures that have helped to arrest the downward trend. These measures, however, are not enough to meaningfully improve prices over the short term. Cost control and leverage reduction will be important strategies for companies to maintain stable credit quality.
Fitch Ratings further said, 2014 has been a difficult year for coal mining companies in China, with coal prices sliding by about 20% in the first 10 months of the year. Prices have been hurt by overcapacity in the industry, which has persisted since 2012. There was also lower demand for thermal coal stemming from one-off factors such as higher-than-average rainfall that boosted hydropower generation.
The government introduced measures to support the industry, including imposing import duties ranging from 3% to 6% for thermal and coking coal from mid-October 2014. This led to a 27% fall in coal import volume in November 2014 compared with a year ago. In addition, the government banned the domestic production as well as import of low-quality coal.
Together with a seasonal upswing in coal consumption, coal prices in China have stabilised recently. The Qinhuangdao 5500 kcal/kg free on board (FOB) coal price has risen by about 6% since the beginning of November 2014. Nonetheless, Fitch believes a meaningful upswing in coal prices is unlikely in the next 12 months. Substantial capacity investments in previous boom years are still being digested, while demand has been weakened due to industrial deceleration. In addition, the government aims to increase the production of renewable energy at the expense of the share of coal-fired power over the longer term, which means that the thermal coal consumption growth rate is set to decline.
While 2014 coal prices are comparable with 2009 levels, production costs are in general about 25%-30% higher than in 2009, driven by increases in staff expenses as well as governmental fees, such as land conversion fees and environmental protection fees. To combat lower prices, many Chinese coal producers have cut costs significantly. Yanzhou Coal Mining Company Limited has reduced its domestic mining cost per ton by 30% during the first three quarters of 2014 from a year earlier, thereby maintaining steady gross profits on a per ton basis. Fitch believes a continuation of similar efforts will be needed for coal companies to preserve cash flow.
When coal prices increased between 2009 and 2012, many coal producers undertook debt-funded capex and investments. With the reversal in coal prices, their leverage has climbed higher than they expected because the expected cash flow for debt reduction failed to materialise. Efforts to improve debt leverage amid continuing low prices will be crucial for companies to maintain stable credit profiles.
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Tuesday, 18 November 14
VALEMAX DEAL TO DETERMINE DRY BULK MARKET'S FATE - DREWRY MARITIME RESEARCH
Vale’s accord to sell and lease four Valemax vessels to COSCO might have negative repercussions on dry bulk freight rates. Vale has committed ...
Tuesday, 18 November 14
SUB-BIT FOB INDONESIA COAL SWAP DELIVERY Q2' 2015 CLOSED AT $ 49.55; DOWN 4.10% M-O-M
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week and day on day.
The Q1 swap has lost US ...
Tuesday, 18 November 14
FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT $ 66.31; UP 1.33% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has gained US$ 0.27 (+0.41%) month over month and US$ 0.87 (+1.33%) week ...
Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well ...
Monday, 17 November 14
SKULD ISSUES URGENT NOTICE ON BANKRUPTCY OF OW BUNKER A/S
Further to the Association’s advices of 7 November 2014, more information has come to light with respect to the potential impact and scale of ...
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Showing 3366 to 3370 news of total 6871 |
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- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Australian Coal Association
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
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