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