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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, 23 December 14
Q4'15 FOB RICHARDS BAY COAL SWAPS FALL $ 3.85 IN A MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 2.13 (-3.17%) month on month ...
Tuesday, 23 December 14
SHIPOWNERS ARE FINALIZING MORE DEALS AS YEAR END COMES CLOSER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
With the 2014 year just a few days before waving goodbye, shipowners are looking to close their pending deals in both the newbuilding and S&P m ...
Monday, 22 December 14
Q2'15 CFR SOUTH CHINA COAL SWAP CLOSED $ 0.30 LOWER THAN Q1'15 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.67 (-5.81%) month over month and US$ 0.35 (-0.58%) ...
Monday, 22 December 14
API 5 FOB NEWCASTLE COAL SWAPS ARE HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.71 per MT (-3.24%) and closed at US$ 51.02 on 19 December month ...
Sunday, 21 December 14
PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA FALLS FURTHER
COALspot.com: The BDI continued its fall as cape index lost heavily week on week.
The BDI was down 6.95 percent week over week and closed at 8 ...
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Showing 3296 to 3300 news of total 6871 |
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- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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