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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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Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a tim ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
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- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
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