Fitch: APAC Thermal Coal Price Rebound Unlikely in Near Term

(The following statement was released by the rating agency)Link to Fitch Ratings' Report: APAC Thermal Coal Dashboard 1H15https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=871223SHANGHAI/SINGAPORE, September 24 (Fitch) Link to Fitch Ratings' Report: APAC Thermal Coal Dashboard 1H15A significant rebound in coal price is unlikely in the short term despite some supply cuts in the Asia-Pacific (APAC) region, Fitch Ratings says in a new report.China, which accounts for around 70% of the region's coal use, is likely to see its demand stay depressed due to a slowdown in industrial activities and a shift in energy mix. India's import demand overtook China's in 1H15, but further increases will depend on how quickly it can ramp up its domestic mining capacity and on the growth in its thermal-power generation. Some smaller and higher-cost players in Indonesia have cut or halted production, but its slow power-generation capacity build-up may keep its domestic demand growth slow in the next year or two.The report titled "APAC Thermal Coal Dashboard 1H15" is available at www.fitchratings.com or by clicking the link in this media release.Contact: Alvin ChengAssociate Director+86 21 5097 3389Fitch Ratings (Beijing) Ltd. Shanghai Branch1015, 10/F, IFC Tower A, HSBC Building,8 Century Avenue, Pudong, Shanghai 200120, ChinaAkash GuptaAssociate Director+65 6796 7242Buddhika PiyasenaSenior Director+65 6796 7223Media Relations: Leslie Tan, Singapore, Tel: +65 67 96 7234, Email: leslie.tan@fitchratings.com; Wai-Lun Wan, Hong Kong, Tel: +852 2263 9935, Email: wailun.wan@fitchratings.com.Additional information is available on www.fitchratings.comALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.