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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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- Ministry of Mines - Canada
- London Commodity Brokers - England
- Marubeni Corporation - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Eastern Energy - Thailand
- White Energy Company Limited
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
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