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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, 02 December 14
U.S WEEKLY COAL PRODUCTION FELL 1.4% WEEK ON WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.6 million short tons (mmst) o ...
Tuesday, 02 December 14
FOB RICHARDS BAY COAL SWAPS LOST MONTH OVER MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month, week on week and day over day.
The Q1 swap has lost U ...
Tuesday, 02 December 14
SUB-BIT FOB INDONESIA COAL Q1' 15 DELIVERY SWAP CLOSED AT US$ 49.50
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$ 0.4 ...
Monday, 01 December 14
SGX'S FOB NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 52.50
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.50 on 28 November after losing US$ 1.20 (-2.23%) month ove ...
Monday, 01 December 14
Q2' 15 DELIVERY CFR SOUTH CHINA COAL SWAP CLOSED 0.42% LOWER THAN Q1' 15 DELIVERY CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 2.45 (-3.78%) month over month and US$ 0.67 (-1.06%) we ...
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- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- White Energy Company Limited
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
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