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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.
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Wednesday, 03 September 14
CFR S.CHINA COAL SWAP FOR JAN 2015 DELIVERY CLOSED AT $ 68.30 PMT; DOWN 2.43% W-O-W
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.95 (-1.39%) day on day and US$ 1.40 (-2.03%) week on wee ...
Tuesday, 02 September 14
BERAU COAL HAS AWARDED A CONTRACT EXTENSION TO BUMA FOR 647 MLN BCM OVERBURDEN REMOVAL
COALspot.com: PT Delta Dunia Makmur Tbk (“DOID”) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama (&l ...
Monday, 01 September 14
GLOBALCOAL WELCOMES TWO NEW MARKET MEMBERS
COALspot.com: globalCOAL® announced today that two Market Members have joined its trading community. Both new Market Members are from the India ...
Sunday, 31 August 14
COAL FREIGHT RATES INTO INDIA FROM INDONESIA FIRM
COALspot.com: The freight market continued to firm this week. BDI up 5.42 percent week ended 29 August and closed at 1147 points while the Ca ...
Saturday, 30 August 14
INDIAN GOVERNMENT SHOULD TAKE NOTICE: THERMAL COAL IMPORT PRICES EXTREMELY LOW - COMMODORE RESEARCH
COALspot.com: Both Indonesian and Australian thermal coal prices are at the lowest levels seen this decade, with Indonesia's monthly benchmark ...
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Showing 3511 to 3515 news of total 6871 |
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- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Minerals Council of Australia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Planning Commission, India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- The University of Queensland
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
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