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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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Saturday, 07 December 19
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
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Showing 1251 to 1255 news of total 6871 |
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- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Planning Commission, India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
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