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