We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 19 November 15
CHINA STEEL PRODUCTION CAPACITY TO PEAK IN 2016 - FITCH RATINGS
 COALspot.com: Fitch Ratings today says that China's steel production capacity is likely to peak in 2016, with capacity elimination over the next five years likely to outpace additions.
In the Q&A below, Hong Kong-based Laura Zhai and Shanghai-based Charles Li of Fitch's Industrial Team, discuss the factors driving their forecasts for China's steel production, exports and consumption.
Q. Chinese steel production capacity continues to increase despite weak demand; when will capacity peak?
Fitch expects Chinese steel production capacity to increase to about 1.17 billion tonnes in 2015 from 1.15 billion in 2014. The increase in 2015 includes about 30 million tonnes of new capacity, which is partly offset by estimated capacity shutdown of 10 million tonnes. Fitch expects annual new capacity of around 16 million tonnes to be added in 2016 and 2017, although this will be offset by shutdowns of plants with total capacity of 75 million-85 million tonnes over the next five years. This will result in capacity peaking in 2016.
Fitch believes that future capacity elimination in China will mainly be driven by market forces rather regulations. Most of the regulatory measures implemented have already forced out smaller players and the plants that remain in operation are larger in comparison and comply with existing policies. Stricter environment standards could also cause financially weak steel producers to shut down because they will not be able to afford the required investments.
Q. China's apparent steel consumption declined in 2014 for the first time in 20 years, and the decrease has extended into 2015. What is Fitch's expectation for steel consumption for 2016 and after?
The decline in China's apparent steel consumption (sum of production and imports, less exports) was mostly due to slower fixed-asset investment (FAI) growth and de-stocking in the steel industry.
China's FAI rose by 10.2% in 10M15, slower than the 15.9% in 10M14, due to deceleration in activity in the manufacturing and property sectors, which accounted for 33% and 23%, respectively of FAI in China in 10M15. The slowdown in construction activity led to a collapse in steel prices. At the same time, steelmakers stepped up sales of their stocks. De-stocking is not captured in apparent consumption, contributing to an understatement of the apparent consumption figure.
Fitch expects FAI growth to pick up slightly in 2Q-3Q16, driven by real-estate construction activities, before reverting to a lower level of normalised growth 12-18 months later. Fitch believes that Chinese apparent consumption of steel will remain flat in the next few years now that de-stocking has ended, at about 760 million tonnes a year. Any substantial negative or positive surprises in growth rates are likely to be driven by swings in real-estate construction activities.
Q. What is Fitch's expectation for Chinese steel exports in the long term?
Exports of steel reached 93.8 million tonnes in 2014, but are likely to return to around 70 million-80 million tonnes a year in the long term. China's exports comprise product sales overseas and the transfer of production capacity overseas, which is known as capacity export in China, to alleviate overcapacity in China.
In the short term, Fitch expects Chinese steel producers to continue to enjoy cost advantages stemming from further depreciation in the Chinese yuan and lower material prices, which will help drive exports.
Over the long term, exports will be mainly driven by China's One Belt One Road plan, where Chinese funding for the construction of a network of transport, energy, and telecommunications infrastructure extending across Asia to Europe and East Africa will create demand for either Chinese steel products or Chinese-constructed production capacities abroad, as a means to alleviate current overcapacity issues in China. The implementation of this policy, though, will depend on domestic government funding and more concrete policy guidelines.
Q. What are the key challenges for Chinese steel producers amid oversupply and slack demand in the market?
Fitch believes that Chinese producers will need to invest in R&D to facilitate manufacturing of higher-value-added products. They will also be faced with more stringent environmental regulations, such as lower limits on sulphur dioxide emission (a major by-product of steel making). Meeting these new standards would require substantial investment with no significant benefit to EBITDA, which may reduce profitability for some steel manufacturers.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
|
|
|
Showing 41 to 45 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
|
| |
| |
|
