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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- The University of Queensland
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Australian Coal Association
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
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