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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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- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
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