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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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Tuesday, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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Showing 101 to 105 news of total 6871 |
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- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Australian Coal Association
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
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