We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
 COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector in Indonesia is unlikely, despite the substantial number of distressed coal companies in the country. Sustained weakness in demand and an uncertain price outlook for Asian thermal coal have prompted the larger coal companies in Indonesia to preserve liquidity and focus on maximising returns from existing projects.
Coal prices have fallen by about 40% from the average prices in 2011, and are not expected to see any material improvement in the next 12-24 months, due to weak import demand from China and strong supply globally.
The larger Indonesian coal miners have already incurred sizable investments in greenfield and brownfield coal projects in the past two to three years, and now have large undeveloped resources. Fitch believes capex will be mostly limited to expanding production of existing assets and bringing some of the economically viable resources to production readiness. Investment spending by these companies on new coal assets will be muted until there is a meaningful recovery in coal prices.
Fitch believes any M&A will be limited to assets that can be relatively easily integrated into existing operations of potential suitors or mines than can be integrated with potential mine-mouth power generation projects supplying to the national grid based on long-term power purchase agreements. We also believe there could be some interest from overseas power generation companies, such as from India, to support their coal requirements in the home market. However, we believe such opportunities are limited compared to the number of distressed coal assets in Indonesia.
An additional obstacle for M&A is regulatory risk. These include national production (or export) caps, increased royalties for the newer (Izin Usaha Pertambangan/IUP) coal license holders (which make up the largest share of the distressed assets). Furthermore, most available greenfield mines are located in Sumatera, which generally contains low calorific value (CV) coals.
Presently, low CV coals face a higher degree of uncertainty in terms of pricing, given a potential ban (or punitive import taxes) on the import of these into China. Given the low energy content and higher investments required for logistics, monetising Sumatran coal has become increasingly more challenging.
Given the weak market conditions and outlook, access to funding, including bank debt and debt capital markets, has also been challenged, except for a very few large, profitable coal producers in Indonesia. This too is proving to be a constraining factor for consolidation.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 02 October 14
CAPESIZE - DULL AND WITHOUT MUCH DIRECTION AS IRON ORE AND COAL VOLUMES FAIL TO LIVE UP EXPECTATIONS
Handy
After the recent weeks´ rate increase in the Atlantic we see Panamaxes snapping up handymax and Supra cargoes at much lower levels, p ...
Wednesday, 01 October 14
ASIAN THERMAL COAL PRICES TO REMAIN WEAK ON OVERSUPPLY - FITCH
COALspot.com: The thermal coal market in Asia will remain oversupplied in the next 12 months, in spite of on-going rationalisation of production, a ...
Wednesday, 01 October 14
PANAMAXES: DEFENSIVE, STRUGGLING TO KEEP ANY FURTHER DECREASES - INTERMODAL
COALspot.com: The Dry Bulk market seemed unable to shake off the trend of the week prior and the BDI remained on a downward slope for the bigger pa ...
Wednesday, 01 October 14
FITCH: GLOBAL ECONOMY FACES MULTI-SPEED RECOVERY, MULTIPLE RISKS
Fitch Ratings says in its latest Global Economic Outlook (GEO) that global growth will pick up in 2015 and 2016, but risks are weighted to the down ...
Tuesday, 30 September 14
COALVIEW TO PARTICIPATE AT MET COKE WORLD SUMMIT 2014 IN CHICAGO
COALspot.com: Coalview Ltd., LLC(“Coalview”) America's leading fully integrated coal technology and fine coal recovery company prov ...
|
|
|
Showing 3456 to 3460 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Planning Commission, India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Australian Coal Association
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
|
| |
| |
|
