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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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Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
Wednesday, 10 December 14
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS, INTERMODAL
COALspot.com: As 2014 is coming to an end, we look back to what has happened during the year and notice that SnP activity has been particularly sof ...
Wednesday, 10 December 14
WORLD HARD COAL MARKET 2014: PRODUCTION AND TRADE STAGNATING, IMPORTS TO GERMANY AND EUROPE ON THE DECLINE
Press Release: German Coal Importers Association (VDKi) criticizes regulations ordering reduction of CO2 emissions from coal-fired power plants as ...
Tuesday, 09 December 14
PRESSURE ON CHINA COAL MINERS TO CONTINUE DESPITE GOVERNMENT SUPPORT - FITCH
COALspot.com: Fitch Ratings says that Chinese coal mining companies will continue to be pressured by low prices, which will persist despite recent ...
Tuesday, 09 December 14
Q4' 2015, FOB INDONESIA COAL SWAP CLOSED AT $ 49.02 W/E 5 DEC
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 0.2 ...
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- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- GMR Energy Limited - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
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