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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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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Australian Coal Association
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
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