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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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- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Sojitz Corporation - Japan
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