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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, 11 March 16
US WEEKLY COAL PRODUCTION DOWN BY 0.5 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.6 million shor ...
Friday, 11 March 16
FORTESCUE'S MOU WITH VALE COULD STRENGTHEN ITS BUSINESS PROFILE - FITCH
COALspot.com: Fitch Ratings says that Australia-based Fortescue Metals Group Limited's (BB+/Negative) memorandum of understanding (MOU) with Br ...
Thursday, 10 March 16
CHINA'S NEW POLICY PLAN COULD BE POSITIVE FOR SHIPPING, BUT TARGETS SEEM RATHER AMBITIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China set out its new policy plan during the course of the past weekend, but it seems to have set some very ambitious goals, which could be difficu ...
Thursday, 10 March 16
U.S. COAL EXPORTS DECLINED 23% IN 2015, AS COAL IMPORTS REMAINED STEADY
COALspot.com: The United States remains a net exporter of coal, exporting 74.0 million short tons (MMst) and importing 11 MMst in 2015.
Accord ...
Thursday, 10 March 16
IT FEELS SAFE TO SAY THAT THE MARKET IS SLOWLY AND PAINFULLY REGAINING ITS BALANCE
With the BDI marking its third consecutive positive weekly closing, it feels safe to say that the market is regaining its balance; slowly and painf ...
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Showing 2526 to 2530 news of total 6871 |
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- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Australian Coal Association
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
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