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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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Friday, 07 November 14
U.S. PRODUCED 85.60 MILLION SHORT TONS OF COAL IN OCTOBER, UP 2.88% M-O-M
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.0 million short tons (mmst) of coal ...
Thursday, 06 November 14
THE ATLANTIC HAS REMAINED STRONG WITH A HEALTHY SUPPLY OF NEW CARGOES
Handy
This week has continued its slow trend in both hemispheres and even though rates are a bit up w-o-w it is not a clear sign for any improvem ...
Wednesday, 05 November 14
CAPESIZE SEGMENT ENJOYED FIRMING RATES ACROSS BOTH BASINS
Following a fantastic week in terms of rate performance for Capes, the Dry Bulk market managed to note another positive weekly closing, which stron ...
Wednesday, 05 November 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
COALspot.com: The steep appreciation in dry bulker values between late 2012 and March 2014 resulted in unrealistically expensive ship values compar ...
Tuesday, 04 November 14
INDONESIAN COAL SWAPS FOR 2015 DELIVERIES SHOW A WEAK TREND
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week, the trend was same as las ...
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- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Planning Commission, India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
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