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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
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