We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 16 March 18
INDONESIA COAL PRICE CAP POSES LIMITED RISKS TO PRODUCERS : FITCH
 Indonesia’s cap on the benchmark price of coal sold to the domestic electricity sector is unlikely to have a significant impact on the credit profiles of Fitch-rated mining firms, which export most of their production, says Fitch Ratings. In any case, our ratings are based on average benchmark price forecasts that are broadly in line with the cap of USD70/tonne imposed until end-2019, and so will not be affected.
The price cap, announced last week and set to apply from mid-March, is part of the government’s strategy to ensure low prices for electricity consumers as it looks to support industrial competitiveness and household disposable incomes. It froze electricity prices charged to industrial consumers earlier in the year, preventing Perusahaan Listrik Negara (PLN), the state-owned monopoly distributor, from passing on rising costs as coal prices were pushed up by an unusually cold Chinese winter. The Indonesian coal price benchmark, Harga Batubara Acuan (HBA), has exceeded USD95/tonne since January 2018, which might have necessitated an increase in government subsidies to PLN if the price cap had not been imposed.
The new regulations will mean coal miners miss out on some of the short-term upside from high prevailing coal prices, to the extent that they sell production to the domestic market. The government sets domestic market obligations for miners to ensure they meet local demand, which prevents them from simply diverting output toward the overseas market.
That said, only around one-fifth of Indonesia’s 461 million tonnes of coal production was sold in the domestic market in 2017, which suggests any loss of revenue will be limited. Indika would be the most affected among our rated coal miners, as around 15% of its volumes are sold to the domestic power sector. GEO Energy, Golden Energy Resources, ABM Investama and PT Toba Bara sell less than 10% of volumes to the domestic power sector. Domestic market obligations are likely to increase over the medium term, as the government looks to contain production and conserve coal resources for local power needs, but a sharp rise next year is unlikely.
Coal firms will therefore continue to receive the market price for the majority of their production. As a result, their financial performance might still exceed our expectations at the start of the year, when we had forecast an average Newcastle benchmark (6000 kcal) price of USD72/tonne in 2018 and USD67/tonne in 2019. The HBA on which the regulations are based broadly reflect Newcastle prices.
The new price regime does not include a floor on prices, and so provides no benefit to the mining firms in the event of a downturn. Prices will continue to fluctuate as before if the market price drops below USD70/tonne.
The price ceiling is unlikely to have any meaningful impact on PLN’s standalone credit profile. We would have expected the government to compensate PLN for losses through subsidies if high coal prices and fixed electricity prices had caused under recoveries. PLN’s IDR of ‘BBB’ is equalised with the sovereign rating due to its very strong government linkages.
Source: Fitch Ratings
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
Tuesday, 27 March 18
SHIPPING MARKET ANALYSIS - GERRY LATHROP
With the almost complete phase out of Tier II new-building slots on our door step, along with the plethora of emissions related articles seemingly ...
Friday, 23 March 18
RIO TINTO AGREES SALE OF HAIL CREEK AND VALERIA TO GLENCORE FOR $1.7 BILLION
Press Release: Rio Tinto has entered into a binding agreement with Glencore for the sale of its entire interests in the Hail Creek coal mine and th ...
Wednesday, 21 March 18
CHINA'S RAW COAL OUTPUT UP IN 2017, FIRST GROWTH SINCE 2014 - XINHUA
China’s raw coal output rose in 2017 due to rebounding demand and high-quality capacity, according to the National Bureau of Statistics (NBS) ...
Wednesday, 21 March 18
MARKET INSIGHT - CHRISTOPHER T. WHITTY
President’s Trump administration proposed tariffs on steel and aluminum imports in an attempt to target China and Europe among others. Earlie ...
|
|
|
Showing 1761 to 1765 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
|
| |
| |
|
