We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
|
|
|
Showing 6 to 10 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- The University of Queensland
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
|
| |
| |
|