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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, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
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- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Mjunction Services Limited - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
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