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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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Monday, 07 March 16
FREIGHT MARKET MOVING POSITIVE; ALL SEGMENTS EXCEPT CAPE SHOWING A FIRM TREND
COALspot.com: The freight market was steady this past week and showing a firm trend for all segments except for Cape index.
The Baltic Dry Ind ...
Friday, 04 March 16
GLOBAL ECONOMY'S JITTERS ARE SLOWING DOWN SHIPPING EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The global economy’s shaky condition to say the least is now hampering growth and as a result demand for shipping is slowing down, something ...
Friday, 04 March 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 109.3 MMST; 30.2% LOWER THAN THE COMPARABLE YEAR-TO-DATE COAL PRODUCTION IN 2015 - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 million shor ...
Thursday, 03 March 16
INDIA'S BUDGET NOT ENOUGH TO BOOST STEELMAKERS' PROFITABILITY - FITCH RATINGS
COALspot.com: Fitch Ratings says that increase in proposed infrastructure spending in India's latest government budget is unlikely to provide a ...
Thursday, 03 March 16
BDI FURTHER STRENGTHENING; THE INCREASE IN RATES WAS NOT SUBSTANTIAL
COALspot.com: The BDI closed off on a positive note for a second week in a row, further strengthening the belief that the market might be bottoming ...
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Showing 2536 to 2540 news of total 6871 |
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- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
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