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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, 23 November 14
ITALY'S STEAM COAL IMPORTS TO DROP BY 11% IN 2014 - ASSOCARBONI
COALspot.com: Italy’s steam coal imports expected to drop to 16 million tons in 2014 (-11% compared to 2013); coking coal imports to plunge t ...
Saturday, 22 November 14
THE FALL IN BUNKER PRICES REDUCE FUEL COSTS SIGNIFICANTLY - BIMCO, PETER SAND
For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as USD 1 million a year if current price level st ...
Saturday, 22 November 14
DRY BULKERS NEWBUILDING DELIVERIES REACHED 11.8 MILLION DWT DURING THIRD QUARTER, NET FLEET GROWTH FOR 2014 TO REACH 5% - HELLENIC SHIPPING NEWS
The dry bulk market has rebounded since its less than impressive performance since the start of the year, but overall, third quarter figures could ...
Friday, 21 November 14
BUMI ENTERS INTO CONDITIONAL SALE & PURCHASE AGREEMENT TO SELL FBS STAKE
COALspot.com: PT Bumi Resources Tbk, one of the Indonesia's largest coal producers confirms that it has executed a Conditional Sale and Purchas ...
Friday, 21 November 14
U.S LAST WEEK'S COAL PRODUCTION STAYS FLAT W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
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- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
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