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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
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