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