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Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
 COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a potentially positive credit impact for a number of Asia-Pacific sovereigns if the lower prices are sustained below USD90/bbl through 2015, in line with our latest forecast, says Fitch Ratings.
Most major Asian economies - including China, Japan, Korea and Thailand - would see an effective overall income boost from sustained lower oil prices. In addition, countries with large oil import needs facing external adjustment pressures such as Indonesia and India are among the best positioned to see a positive impact on sovereign credit profiles, although the broader policy response will matter too.
All but one of the Fitch-rated APAC sovereigns are net oil importers. Net oil import bills range significantly, from greater than 10% of GDP for Thailand to less than 2% for Bangladesh and Vietnam. Korea, Japan and China have net import bills of 6%, 3% and just over 2% of GDP, respectively.
For consumers, there would be a positive consumption effect from falling retail energy prices. Disinflation as a result of lower oil prices could also contribute to GDP growth less directly in some countries, by facilitating a more accommodative monetary policy than would otherwise be followed. Notably, several key Asian economies, including Japan, have been increasingly relying on liquefied natural gas (LNG) as part of their energy mix, and Asian LNG prices are linked to Brent crude.
A combined positive impact on fiscal accounts, economic growth and terms of trade, would be particularly beneficial for the sovereign credits of countries which are both net oil importers and facing external adjustment pressures, including Indonesia and India. Lower oil prices will help to ease the trade-offs faced by these economies as they aim to bolster growth while reducing external account deficits.
Beyond the macroeconomic growth effects, the fiscal impact could also be significant for several south and south-east Asian sovereigns. Both the Indian and Indonesian governments have already taken advantage of the price decline. In India, diesel prices were deregulated on 18 October. The direct impact on our headline fiscal forecasts is expected to be limited, while this will make the fiscal accounts more robust against future oil shocks, since both diesel and petrol prices are now determined by the market.
In Indonesia, the new administration under President Joko Widodo raised the administered price of fuel by over 30% on 18 November. Roughly 15% of total government spending (2.4% of GDP) is allocated to fuel subsidies, according to the state budget. In addition to direct effects on the state budget, the price hike provides a clear, positive signal of the new government's intentions to swiftly implement its reform agenda.
However, the extent to which sovereigns are able to realise the potential fiscal benefits will be determined at least partly by how policy makers respond - whether they use budget windfalls to increase spending or reduce deficits.
Fitch has lowered its forecast for the price of Brent Crude to average USD87/bbl through 2015 and USD90/bbl for 2016 as part of our latest forecasting round, down from our September forecasts of USD100/bbl and USD95/bbl, respectively.
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Tuesday, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
Tuesday, 30 December 14
U.S WEEKLY COAL PRODUCTION ALMOST FLAT AT -0.2%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Monday, 29 December 14
CHINESE COAL IMPORTS: REGULATORY RISKS? - CLARKSONS
In recent years, Chinese seaborne coal imports have surged, registering average growth of 67% p.a. between 2009 and 2013 to total 265mt. However, t ...
Monday, 29 December 14
BULK MARKET ENDS YEAR ON SOUR NOTE, SHIPBROKER SEES 'BUMPY ROAD AHEAD' - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2014 was supposed to be the year that the dry bulk market would stage a comeback and a sustainable one for that matter. However, while for the most ...
Monday, 29 December 14
Q1'15 CFR SOUTH CHINA COAL SWAP CLOSED AT $59.42
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.51 (-5.58%) month over month and US$ 0.08 (-0.13%) ...
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- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
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