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Thursday, 07 April 16
CHINA STEEL CAPACITY CUTS FACE SOCIAL, FINANCIAL HURDLES - FITCH RATINGS
 Fitch Ratings says today that the Chinese government's supply-side reform of the steel sector faces immense social and financial challenges. The government earlier this year said it aimed to eliminate 100 million to 150 million tonnes of capacity by 2020. The complete elimination of these capacities will likely result in significant job losses in the labour-intensive sector and huge financial losses, given the highly levered nature of most companies in the industry.
We believe that unless specific actions are taken to address these challenges, rapid capacity elimination in the Chinese steel sector is unlikely. This would in turn mean prices are likely to remain low, resulting in higher liquidity and default risks for steelmakers, many of which expanded rapidly since 2012 funded by short-term debt.
Based on industry productivity norms of 300 tonnes of steel per year per employee in China, elimination of 150 million tonnes of capacity would mean the loss of around 500,000 jobs in the industry, and potentially more in ancillary industries. This number may not appear large relative to China's working population, but the steel industry tends to by highly geographically concentrated. Layoffs in regions where steelmakers are large employers could result in prolonged dampening of related industries such transportation, power generation, and even retail.
Furthermore, the sector is highly financially levered, with the average debt-to-asset ratio at more than 70%. We estimate the industry has total debt of CNY3trn-4trn, excluding upstream funding through payables and unpaid staff costs. Out of this debt, one third is in the form of bank loans. Even the shutdown of 100 million tonnes of capacity, a reduction of less than10% of existing capacity, could significantly hurt lenders.
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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
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, ...
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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Showing 2506 to 2510 news of total 6871 |
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- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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