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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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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- The University of Queensland
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
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