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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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Monday, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 25 March 16
DRY BULK SHIPPING FLEET WILL GROW BY 1.3% DURING 2016 - BIMCO | HELLENIC SHIPPING NEWS
The dry bulk market will keep on suffering, at least until the start of 2017 and possibly well after that, should the current balance of supply and ...
Friday, 25 March 16
U.S COAL PRODUCTION DECLINED 9.1% W/W - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million shor ...
Thursday, 24 March 16
SEABORNE TRADE: CHECKING UP ON THE TRENDS - CLARKSON RESEARCH
Following a decline in 2009, seaborne trade grew on average by 4.9% p.a. in 2010-13, reflecting booming import demand in a number of key importing ...
Thursday, 24 March 16
NEWBUILDINGS' PRICES HAVE STARTED TO COME DOWN - ALLIED | HELLENIC SHIPPING NEWS
Newbuildings’ prices have started to come down, as demand has remained subdued for quite some time now. In its latest weekly report, shipbrok ...
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- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- White Energy Company Limited
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
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