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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- London Commodity Brokers - England
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
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