COALSPOT.COM IS A BRAND NAME, NOT A PORTAL NAME Thursday, 23 May 2013
  • SHARE YOUR COAL NEWS WITH COALspot.com - news@coalspot.com
  • Indonesian 5800 GAR coal (Physical) market direction: FLAT - COALspot.com's self assessment (updated on 15/5/13)
  • Indonesia has set the MAY 2013 Coal Price Reference at US$ 85.33 per ton
  • SGX AsiaClear OTC FOB Sub-Bit Indonesia Coal Swap for Q4 2013 Contract - $63.73 (-0.01% dod) 23/5 8pm SG time - SGX
  • SGX AsiaClear OTC FOB Sub-Bit Indonesia Coal Swap for Q3 2014 Contract - $63.45 (0.00% dod) 23/5 8pm SG time - SGX

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


WTI Crude Oil

BRENT Crude Oil

Search News
Latest CoalNews Headlines

Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS


Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's (Adaro Energy) planned investment in greenfield coal miner PT Bhakti Energi Persada (BEP).

Adaro Energy recently signed an agreement for the right to acquire up to 51% of BEP over three years for up to USD500m through a convertible loan or to issue a pre-specified number of shares of Adaro Energy to the shareholders of BEP (participating in this agreement) in exchange for 79.8% of BEP. Adaro Energy currently owns 10.22% of BEP.

BEP has seven coal concessions, all IUPs (Izin Usaha Pertambangans - mining business licences), with estimated Australasian Joint Ore Reserves Committee (JORC)-compliant coal resources of 9.53 billion tonnes. Fitch expects that a large part of the investment required before bringing these resources to production will relate to the coal hauling road connecting the mines to barging and shipping points. Coal resources of BEP are of low energy content (3,379kcal on a gross as received basis) and as such will trade at a substantial discount to benchmark thermal coal prices. However, the favourable geology of BEP mines will allow the extraction of coal at an extremely low strip ratio (i.e., units of overburden to be removed on per unit of coal extracted) over the average life of a mine of below 0.5x as estimated by Adaro Energy, supporting the economic viability of these operations. The materially shorter supply chain of BEP's mines at 130km (versus 320km for Adaro's existing mines) would provide further support.

However, BEP coal mines have substantially lower cash margins than Adaro Energy's currently main cash generating mine, Tutupan, and are more susceptible to low coal prices. There is also uncertainty relating to coal mining regulations in Indonesia at present, such as restrictions on coal exports and a resource export tax. Any unfavourable regulatory developments can affect the commerciality of BEP's operations. However, Adaro Energy's options to invest in rather than an outright purchase of BEP resources provide a meaningful level of flexibility and safety. Fitch believes that any investments in the first half of the three-year option period will not be significant and can be funded from Adaro Energy's projected internal cash generation.

If successfully executed, BEP can over time contribute to the increasing diversity of Adaro Energy's mining operations. The limited diversity of Adaro Energy's existing mine sites is one of the factors currently constraining its ratings.

The ratings of Adaro are based on the credit profile of Adaro Energy given their strong rating linkages as per Fitch's parent-subsidiary linkage methodology. At end-March 2012 Adaro Energy's funds from operations (FFO)-adjusted gross leverage was 2.4x and FFO interest coverage 7.0x. 

Negative rating action may result from FFO gross leverage rising above 2.75x or FFO interest coverage falling below 5x for two consecutive years. Other negative rating guidelines are material deviation from its policy of maintaining strong liquidity; adverse regulatory developments that will significantly impair Adaro Energy's financial profile; further substantial investments that weaken Adaro's financial or operating risk profile and a sustained weakening of coal prices. 
Source: Fitch (Hong Kong) Limited


If you believe an article violates your rights or the rights of others, please contact us.

Recent News

Wednesday, 01 May 13
NEWCASTLE PORT SHIPPED 23.14 PER CENT MORE COAL WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,997,729 tons of thermal and coking coal for week ended  0700 hours 29 April 2013, Newca ...


Tuesday, 30 April 13
KATINGAN RIA THERMAL COAL TO START PRODUCTION FROM EARLY 2014
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced  the completion of the Feasibility Study for its 51% owned Katingan Ria thermal co ...


Monday, 29 April 13
FIRST TRADES OF SGX API 8 CFR SOUTH CHINA COAL SWAP
COALspot.com - The SGX API 8 CFR South China Coal Swap went live for clearing on SGX-DC today with a total volume of 25,000 metric tonnes (25 lots). ...


Sunday, 28 April 13
SUB BIT INDONESIA COAL & CFR SOUTH CHINA COAL SWAPS STAY POSITIVE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average May 2013 delivery has gained 0.34 percent and CFR South China coal shipment  gai ...


Sunday, 28 April 13
PANAMAX FREIGHT COULD BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - This BDI closed slightly lower at 871 points (down by 1.91 pct)  mainly due to drop in the Panamax index by almost 10 pct. Th ...


   4 5 6 7 8   
Showing 26 to 30 news of total 2598
News by Category
Popular News
 
Registered Members : 15,141

Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • Rudhra Energy - India
  • PTC India Limited - India
  • Arutmin Indonesia
  • Australian Coal Association
  • Malabar Cements Ltd - India
  • Uttam Galva Steels Limited - India
  • Geoservices-GeoAssay Lab
  • Georgia Ports Authority, United States
  • CESC Limited - India
  • Independent Power Producers Association of India
  • GAC Shipping (India) Pvt Ltd
  • Pendopo Energi Batubara - Indonesia
  • CoalTek, United States
  • Indorama - Singapore
  • Planning Commission, India
  • Siam city cement PLC, Thailand
  • Neyveli Lignite Corporation Ltd, - India
  • Eastern Energy - Thailand
  • Malco - India
  • European Bulk Services B.V. - Netherlands
  • Globalindo Alam Lestari - Indonesia
  • PNOC Exploration Corporation - Philippines
  • GB Group - China
  • Samtan Co., Ltd - South Korea
  • Timah Investasi Mineral - Indoneisa
  • Central Java Power - Indonesia
  • TeaM Sual Corporation - Philippines
  • Thriveni
  • Total Coal South Africa
  • Vizag Seaport Private Limited - India
  • Medco Energi Mining Internasional
  • Bukit Baiduri Energy - Indonesia
  • Thomson Reuters GRC
  • LBH Netherlands Bv - Netherlands
  • Bulk Trading Sa - Switzerland
  • Aditya Birla Group - India
  • Oldendorff Carriers - Singapore
  • CCIC - Indonesia
  • Latin American Coal - Colombia
  • Cigading International Bulk Terminal - Indonesia
  • Cemex - Philippines
  • Thermax Limited - India
  • KEPCO - South Korea
  • Tanito Harum - Indonesia
  • Intertek Mineral Services - Indonesia
  • Indonesia Power. PT
  • Kobexindo Tractors - Indoneisa
  • Straits Asia Resources Limited - Singapore
  • Wood Mackenzie - Singapore
  • Toyota Tsusho Corporation, Japan
  • Savvy Resources Ltd - HongKong
  • Jindal Steel & Power Ltd - India
  • Marubeni Corporation - India
  • Price Waterhouse Coopers - Russia
  • GVK Power & Infra Limited - India
  • India Bulls Power Limited - India
  • Maruti Cements - India
  • CIMB Investment Bank - Malaysia
  • Jaiprakash power ventures ltd
  • Noble Europe Ltd - UK
  • Bangladesh Power Developement Board
  • Cargill India Pvt Ltd
  • New Zealand Coal & Carbon
  • ASAPP Information Group - India
  • ETA - Dubai
  • Pinang Coal Indonesia
  • Sinarmas Energy and Mining - Indonesia
  • McConnell Dowell - Australia
  • TANGEDCO India
  • Mercuria Energy - Indonesia
  • White Energy Company Limited
  • PetroVietnam
  • Kideco Jaya Agung - Indonesia
  • Platts
  • Bayan Resources Tbk. - Indonesia
  • OPG Power Generation Pvt Ltd - India
  • Manunggal Multi Energi - Indonesia
  • Riau Bara Harum - Indonesia
  • Grasim Industreis Ltd - India
  • Vijayanagar Sugar Pvt Ltd - India
  • Tata Chemicals Ltd - India
  • Samsung - South Korea
  • Qatrana Cement - Jordan
  • Global Coal Blending Company Limited - Australia
  • Chamber of Mines of South Africa
  • Indonesian coal mining Association
  • McKinsey & Co - India
  • Metalloyd Limited - United Kingdom
  • Australian Commodity Traders Exchange
  • Glencore India Pvt. Ltd
  • IMC Shipping - Singapore
  • Inspectorate - India
  • ACC Limited - India
  • DBS Bank - Singapor
  • Tata Power - India
  • IEA Clean Coal Centre - UK
  • Antam Resourcindo - Indonesia
  • Videocon Industries ltd - India
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Carbofer General Trading SA - India
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • Asmin Koalindo Tuhup - Indonesia
  • Mjunction Services Limited - India
  • Edison Trading Spa - Italy
  • Kartika Selabumi Mining - Indonesia
  • RBS Sempra - UK
  • Mitsui - Indonesia
  • Rashtriya Ispat Nigam Limited - India
  • BRS Brokers - Singapore
  • Gujarat Sidhee Cement - India
  • Adani Power Ltd - India
  • Vale Mozambique
  • IBC Asia (S) Pte Ltd
  • World Bank
  • Reliance Power - India
  • Xindia Steels Limited - India
  • The India Cements Ltd
  • Africa Commodities Group - South Africa
  • Posco Energy - South Korea
  • IHS Mccloskey Coal Group - USA
  • Leighton Contractors Pty Ltd - Australia
  • Core Mineral Indonesia
  • Deutsche Bank - India
  • Humpuss - Indonesia
  • Kobe Steel Ltd - Japan
  • Larsen & Toubro Limited - India
  • NTPC Limited - India
  • Japan Coal Energy Center
  • Adaro Indonesia
  • Gujarat Mineral Development Corp Ltd - India
  • Shenhua Group - China
  • Maheswari Brothers Coal Limited - India
  • Gupta Coal India Ltd
  • Jorong Barutama Greston.PT - Indonesia
  • SMG Consultants - Indonesia
  • Coalindo Energy - Indonesia
  • SGS (Thailand) Limited
  • Ambuja Cements Ltd - India
  • Mintek Dendrill Indonesia
  • International Coal Ventures Pvt Ltd - India
  • GHCL Limited - India
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • Interocean Group of Companies - India
  • Merrill Lynch Commodities Europe
  • Deloitte Consulting - India
  • Gresik Semen - Indonesia
  • Salva Resources Pvt Ltd - India
  • Ind-Barath Power Infra Limited - India
  • Simpson Spence & Young - Indonesia
  • OCBC - Singapore
  • Permata Bank - Indonesia
  • Fearnleys - India
  • Coeclerici Indonesia
  • The Treasury - Australian Government
  • IOL Indonesia
  • Ernst & Young Pvt. Ltd.
  • Karbindo Abesyapradhi - Indoneisa
  • Electricity Generating Authority of Thailand
  • Essar Steel Hazira Ltd - India
  • Moodys - Singapore
  • Bhoruka Overseas - Indonesia
  • Infraline Energy - India
  • Agrawal Coal Company - India
  • SRK Consulting
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • SASOL - South Africa
  • Meenaskhi Energy Private Limited - India
  • Singapore Mercantile Exchange
  • Indogreen Group - Indonesia
  • Bahari Cakrawala Sebuku - Indonesia
  • Thiess Contractors Indonesia
  • CNBM International Corporation - China
  • PLN - Indonesia
  • MEC Coal - Indonesia
  • Coastal Gujarat Power Limited - India
  • The State Trading Corporation of India Ltd
  • GMR Energy Limited - India
  • Ministry of Finance - Indonesia
  • Argus Media - Singapore
  • ICICI Bank Limited - India
  • Orica Mining Services - Indonesia
  • Surastha Cement
  • globalCOAL - UK
  • Indo Tambangraya Megah - Indonesia
  • Sree Jayajothi Cements Limited - India
  • London Commodity Brokers - England
  • Miang Besar Coal Terminal - Indonesia
  • VISA Power Limited - India
  • Trasteel International SA, Italy
  • Britmindo - Indonesia
  • Bhatia International Limited - India
  • Borneo Indobara - Indonesia
  • Vitol - Bahrain
  • Clarksons - UK
  • MS Steel International - UAE
  • Indian School of Mines
  • Sical Logistics Limited - India
  • Madhucon Powers Ltd - India
  • Shree Cement - India
  • Romanian Commodities Exchange
  • Eastern Coal Council - USA
  • EIA - United States
  • Attock Cement Pakistan Limited
  • Goldman Sachs - Singapore
  • PLN Batubara - Indonesia
  • Makarim & Taira - Indonesia
  • Lanco Infratech Ltd - India
  • Vedanta Resources Plc - India
  • Sucofindo - Indonesia
  • GNFC Limited - India
  • Port Waratah Coal Services - Australia
  • Runge Indonesia
  • Coal Orbis AG
  • Freeport Indonesia
  • Bhushan Steel Limited - India
  • TNPL - India
  • Mitsubishi Corporation
  • Dalmia Cement Bharat India
  • Holcim Trading Pte Ltd - Singapore
  • Kalimantan Lumbung Energi - Indonesia
  • ANZ Bank - Australia
  • Barclays Capital - USA
  • POSCO Terminal, South Korea
  • World Coal - UK
  • Kapuas Tunggal Persada - Indonesia
  • Krishnapatnam Port Company Ltd. - India
  • Karaikal Port Pvt Ltd - India
  • Mitra SK Pvt Ltd - India
  • Sakthi Sugars Limited - India
  • Star Paper Mills Limited - India
  • UOB Asia (HK) Ltd
  • Panama Canal Authority
  • CEB - Sri Lanka
  • Rio Tinto Coal - Australia
  • Commonwealth Bank - Australia
  • Barasentosa Lestari - Indonesia
  • Anglo American - United Kingdom
  • Arch Coal - USA
  • Bank of America
  • TNB Fuel Sdn Bhd - Malaysia
  • U S Energy Resources
  • Inco-Indonesia
  • Billiton Holdings Pty Ltd - Australia
  • Filglen & Citicon Mining (HK) Ltd - Hong Kon
  • Indika Energy - Indonesia
  • Sindya Power Generating Company Private Ltd
  • Formosa Plastics Group - Taiwan
  • Idemitsu - Japan
  • Bukit Asam (Persero) Tbk - Indonesia
  • Coal India Limited
  • SUEK AG - Indonesia
  • Sojitz Corporation - Japan
  • Chettinad Cement Corporation Ltd - India
  • Standard Chartered Bank - UAE
  • Cardiff University - UK
  • Maersk Broker
  • Aboitiz Power Corporation - Philippines
  • Peabody Energy - USA
  • Merrill Lynch Bank
  • Renaissance Capital - South Africa
  • Bharathi Cement Corporation - India
  • bp singapore
  • Petrochimia International Co. Ltd.- Taiwan
  • Kohat Cement Company Ltd. - Pakistan
  • Banpu Public Company Limited - Thailand
  • Xstrata Coal
  • Enel Italy
  • Parliament of New Zealand
  • Credit Suisse - India
  • Alfred C Toepfer International GmbH - Germany
  • Coal and Oil Company - UAE
  • KPMG - USA
  • HSBC - Hong Kong
  • Platou - Singapore
  • Bukit Makmur.PT - Indonesia
  • UBS Singapore
  • KOWEPO - South Korea
  • Siam City Cement - Thailand
  • Mercator Lines Limited - India
  • Jatenergy - Australia
  • Russian Coal LLC
  • Berau Coal - Indonesia
  • KPCL - India
  • Orica Australia Pty. Ltd.
  • APGENCO India
  • BNP Paribas - Singapore
  • Binh Thuan Hamico - Vietnam
  • JPMorgan - India
  • Kaltim Prima Coal - Indonesia
  • Lafarge - France
  • Altura Mining Limited, Indonesia
  • Petrosea - Indonesia
  • J M Baxi & Co - India
  • ING Bank NV - Singapore