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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, 18 November 14
VALEMAX DEAL TO DETERMINE DRY BULK MARKET'S FATE - DREWRY MARITIME RESEARCH
Vale’s accord to sell and lease four Valemax vessels to COSCO might have negative repercussions on dry bulk freight rates. Vale has committed ...
Tuesday, 18 November 14
SUB-BIT FOB INDONESIA COAL SWAP DELIVERY Q2' 2015 CLOSED AT $ 49.55; DOWN 4.10% M-O-M
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week and day on day.
The Q1 swap has lost US ...
Tuesday, 18 November 14
FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT $ 66.31; UP 1.33% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has gained US$ 0.27 (+0.41%) month over month and US$ 0.87 (+1.33%) week ...
Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well ...
Monday, 17 November 14
SKULD ISSUES URGENT NOTICE ON BANKRUPTCY OF OW BUNKER A/S
Further to the Association’s advices of 7 November 2014, more information has come to light with respect to the potential impact and scale of ...
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Showing 3366 to 3370 news of total 6871 |
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- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
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