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Tuesday, 25 August 15
INDONESIA MINERS' NPLS TO RISE FURTHER, BANK RISKS BUILD - FITCH
 The NPLs of Indonesian mine and mine services companies are likely to rise further in the short term, says Fitch Ratings, after reaching multi-year highs thus far in 2015. A combination of sustained weak coal prices and over-supply will continue to challenge the credit profiles of the mining sector, with smaller miners most at risk. This will have a major impact on mining sector-related asset quality at Indonesia's banks, though their credit remains well-buffered by strong capitalisation.
Thermal coal prices have continued to decline amidst weak demand, especially from China, and Fitch does not foresee a near-term catalyst to reverse this downtrend.
The Indonesian benchmark coal reference price has more than halved since its peak in 2011, while falling by 9% year-to-date. As prices fell steadily, miners sought to boost production through to end-2014 to compensate for lower cash margins per unit sold, further exacerbating the downtrend in prices.
This is changing, however, with Indonesia's total production falling by around 20% thus far in 2015. The six largest coal miners, which account for around 60% of Indonesia's total thermal coal production, are mostly maintaining their output. This means that medium- to small-scale miners are finally cutting production or have halted production entirely. A large share of the coal mining-related exposure of Indonesian banks is likely to be to medium- to small-scale miners - given the debt-free operations of some of the largest Indonesian thermal coal miners, and greater reliance on debt capital markets or international banks.
That said, maintaining production at a time of falling prices has not been sufficient to halt a marked decline in revenue and profitability among all of the large miners since FY11, and this downward trend is likely to continue in FY15 and FY16.
The weakening position of mining and related sectors has contributed to deteriorating asset quality for the banking sector as a whole. The latest data for end-May shows NPLs as a percentage of gross loans rising to 2.6% versus 2.2% at end-2014. NPL formation has accelerated: NPL growth had risen to over 33% yoy in April, from 12% during the same period in 2014. Mining and mining-related construction have been among the hardest hit sectors, with NPLs rising to 3.4% for total mining and quarrying, and 5.5% for construction lending.
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Thursday, 17 September 15
LOW DEMAND PUSH COAL SWAP DOWN
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and gain week over week.
The 4Q swap declined $ 1.77 (-4.17%) ...
Thursday, 17 September 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
Having experienced, as it was much anticipated, a poor 1st half combined with negative forecasts, summer, in sharp contrast, proved to be more hope ...
Wednesday, 16 September 15
SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES LED A DECLINE IN INDONESIAN COAL PRODUCTION
COALspot.com: Slower growth in world coal demand particularly China and lower international coal prices have led to a decline in Indonesian coal pr ...
Wednesday, 16 September 15
HIGHER TAXES COULD LEAD GREEK SHIP OWNERS OUT OF THE COUNTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
A potential taxation overhaul of the shipping industry in Hellas, which could see the loss of particular tax benefits for ship owners, could lead t ...
Tuesday, 15 September 15
WORLD SEABORNE TRADE: ENTERING INTO A ROLE REVERSAL? - CLARKSONS
Over the past decade, world seaborne trade growth has been dominated by dry bulk and container trade. However, developments in the global economy t ...
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Showing 2811 to 2815 news of total 6871 |
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- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Minerals Council of Australia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Australian Coal Association
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- VISA Power Limited - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
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