We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 29 August 13
NO RATING IMPACT ON INDONESIAN ENERGY COMPANIES FROM RUPIAH DEPRECIATION - FITCH RATINGS
 Fitch Ratings says the credit profiles of rated Indonesian energy and utilities companies, including thermal coal producers, will largely remain unaffected by a weakening of the Indonesian rupiah, which has depreciated by 10% between February and August 2013.
According to Fitch's latest report, this is due to a high degree of USD-linked cash flows relative to the companies' USD-denominated liabilities and expenses, or strong linkages with and fiscal support from the state to entities that provide a public service obligation. Furthermore, many of the companies have limited near-term USD-denominated debt maturities.
PT Adaro Indonesia (BB+/Stable), PT Indika Energy Tbk (B+/Stable), and Star Energy Geothermal (B+/Stable) are insulated from the currency depreciation as their earnings are predominantly in USD. This provides a strong natural hedge to debt obligations, much of which are USD-denominated. Profit margins of thermal coal producers can benefit to an extent as some of their operating costs are rupiah-based.
The ratings of PT Pertamina Persero (Pertamina, BBB-/Stable) and PT Perusahaan Listrik Negara (PLN, BBB-/Stable) are not immediately affected as the ratings are equalised with that of the Republic of Indonesia (BBB-/Stable), owing to the strategic and operational importance of these entities to the state. Both PLN and Pertamina perform public service obligations, selling fuel and electricity below market prices for which they are compensated via a subsidy reimbursement mechanism. The weakened rupiah increases the operating costs of these two entities as raw materials - coal, gas and oil - will increase, resulting in a higher subsidy requirement from the government under the subsidy mechanism under which they operate. In the event the total subsidy requirement exceeds the approved annual budgetary allocation, Fitch believes the government will approve a higher budget to accommodate any additional amounts.
Given recent increases of certain petroleum products and the elections due in 2014, the prospect of further immediate electricity or fuel price increases may be limited. Both PLN and Pertamina have large capital expenditure requirements and the weakened rupiah will increase the outflow in local currency terms which will increase the financial leverage of these two entities than earlier forecast by Fitch. However, strong state support and ready access to funding markets underpin their liquidity profiles.
All Fitch credit ratings are subject to certain limitations and disclaimers. Please read these limitations and disclaimers by following this link:
Http://fitchratings.com/understandingcreditratings.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 01 September 13
INDONESIA TO INDIA SPOT FREIGHT STAYS FIRM THIS WEEK - VISTAAR
COALspot.com: The freight market continued to be firm with even though the BDI and Cape index dropped by about 3 pct week on week.
The BDI was do ...
Friday, 30 August 13
US COAL PRODUCTION FELL 0.48 PERCENT WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.70 million short tons (mmst) of ...
Thursday, 29 August 13
HANDY: THE PACIFIC MARKET STARTED HEALTHY THIS WEEK - FEARNRESEARCH
Handy
The Pacific market started healthy this week. We have seen many bauxite, iron ore and few coal fixtures. Ships passing Singapore were able to ...
Wednesday, 28 August 13
THE BDI HAS MOVED TO LEVELS CONSIDERABLY STRONGER THAN THE BEGINNING OF THE YEAR - INTERMODAL
By George Bassakos
SnP Broker - Intermodal
We have already reached the end of August and whilst students are preparing themselves for another sc ...
Tuesday, 27 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMPED 15.59 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 15.59 per cent week on week to 2.76 million mt for ...
|
|
|
Showing 4146 to 4150 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
|
| |
| |
|
