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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, 04 November 14
FOB NEWCASTLE COAL SWAPS GAINED WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.09 (-1.99%) month over month and increased US$ 0.31 (+0.58% ...
Monday, 03 November 14
ADARO PRODUCED 41.90MT OF COAL FOR FIRST 9 MONTHS OF 2014
COALspot.com: Adaro’s coal production in the third quarter reached 14.03 Mt, a 2% increase compared to the same period of last year. Accordin ...
Monday, 03 November 14
CFR SOUTH CHINA COAL SWAP FOR Q4' 2014 DELIVERY LOST 2.80% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery has decreased US$ 1.86 (-2.80%) month over month and increased US$ 0.37 ( ...
Monday, 03 November 14
INDONESIAN'S COAL EXPORTS JUMP IN SEPTEMBER
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
Sunday, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
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- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- The University of Queensland
- The Treasury - Australian Government
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
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