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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Australian Coal Association
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Economic Council, Georgia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
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