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