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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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Monday, 17 November 14
INDONESIAN COAL PRICE REFERENCE CONTINUES FREE FALL; SLUMPS TO 69-MONTH LOW
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in November. HBA for t ...
Monday, 17 November 14
API 5 FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT $ 52.75
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery has decreased US$ 1.77 (-3.25%) month over month and US$ 0.02 (-0.04%) day ...
Monday, 17 November 14
SOUTH CHINA COAL SWAP SLIGHTLY INCREASED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.73 (-2.67%) month over month and US$ 0.10 (-0.16%) da ...
Sunday, 16 November 14
THE BDI LOST 12.59% WEEK ON WEEK; THE BCI LOST 19.95%
COALspot.com: The BDI fell 12.59 percent to 1256 point week on week on Friday 14 November. All the segments were also most down this week. The cape ...
Friday, 14 November 14
U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY WEEK ENDING NOVEMBER 08
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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- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
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