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Wednesday, 04 December 19
FITCH RATINGS: CASH FLOW GENERATION TO SLOW DOWN FOR INDONESIAN COAL MINERS
 Fitch Ratings' negative outlook on the Indonesian coal-mining sector reflects our view of weaker cash flow generation on account of declining coal prices. Fitch has revised down its mid-cycle coal-price assumptions, and expects USD80 and USD73 for Qinghuangdao 5,500kcal/kg and Australia Newcastle 6,000kcal/kg thermal coal, respectively, in 2020 (2019E: USD86 and USD77). We expect capex intensity to remain low for the sector; however, acquisitions might pick up in 2020, leading to higher leverage. Profitability is also likely to remain low, in light of weaker coal prices.
Fitch's stable rating outlook reflects the outlook for the majority of our rated entities: PT ABM Investama Tbk (B+) and Geo Energy Resources Limited (B-) are on Negative Outlook, reflecting the entity-specific weaknesses which could be stretched further in the weaker-coal-price scenario.
According to Fitch Ratings, the impact of lower profitability on credit metrics would be partially offset by volume ramp-up by some entities, such as PT Golden Energy Mines Tbk (B+/Stable) and PT Bayan Resources Tbk (BB-/Stable), where both have adequate reserve lives similar to other bigger players such as PT Adaro Energy (BBB-/Stable) and PT Indika Energy Tbk (BB-/Stable). We expect declining reserves to remain an issue for Geo Energy, which might also trigger a put option of its bonds in the absence of any acquisition. ABM's reserve quality is also deteriorating as reserves from its key mine are likely to fully deplete in the next two to three years.
Fitch Ratings further noted that, regulatory risks remain a potential disrupting factor in Indonesia, but Fitch considers any major changes to regulation as an event risk. We believe the two rated coal-miners - Adaro and Indika - which have their Coal Contracts of Work (CCoW) expiring in 2022 and 2023, respectively, will be able to satisfy the conversion guidelines.
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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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Showing 56 to 60 news of total 6871 |
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- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- White Energy Company Limited
- London Commodity Brokers - England
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
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