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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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Wednesday, 26 August 15
2Q'16 FOB INDONESIA COAL SWAP FALLS NEARLY 4.76 PER CENT M-O-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap was declined $ 2.20 (-5.13%) p ...
Tuesday, 25 August 15
MINER'S EARNINGS DROP ON FALLING COAL PRICES; Q2'16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 52.23 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Monday, 24 August 15
FOB NEWCASTLE COAL SWAPS HIT FRESH LOW, DIPPING BELOW $42 A TON
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 2.20 per MT (-5.01%) month over month to US$ 41.70 per mt. The swap ...
Monday, 24 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 48.65 PMT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.89 (3.74%) per MT month over month.
A commodity ...
Monday, 24 August 15
IS CHINA'S STEEL EXPORTS ENOUGH TO SUPPORT THE FREIGHT MARKET? - BIMCO
No, it’s not enough, you will need lower Chinese iron ore production too in order to keep growing imports of iron ore into China that will su ...
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- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
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