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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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Thursday, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Wednesday, 02 March 16
OIL MY GOD.....!!!!
OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had be ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
Tuesday, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% ...
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Showing 2541 to 2545 news of total 6871 |
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- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
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