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Sunday, 01 November 20
GRADUAL RECOVERY FOR INDONESIAN COAL FROM 4Q20; RISKS REMAIN - FITCH RATINGS
 Fitch Ratings expects the credit metrics of Indonesian coal miners and coal contractors to improve from 4Q20 with the recovery in volumes and prices. Fitch also expects the recovery to continue into 2021, as we do not envisage a second round of strict lockdowns.
Fitch has revised its full-year coal-price assumptions, and also assumes lower volumes of 84%-89% of 2019 levels in 2020, reflecting weaker seaborne coal demand, before recovering gradually in 2021. There are further downside risks to volumes beyond our estimates, from a sustained weakness in coal prices.
Fitch also said, credit metrics of most Indonesian miners and contractors are likely to decline in 2020 close to - or beyond - our negative rating action triggers, affected by lower profitability and weaker volumes before recovering in 2021. Recurring sporadic lockdowns are likely to delay revival in economic growth, and in turn hurt demand for coal in key import markets.
Fitch also said, we envisage the ratings on most of the Indonesian coal companies to be at risk if the current weak coal price and demand environment continues into 2021. PT Bukit Makmur Mandiri Utama (BUMA, BB-), PT ABM Investama Tbk (ABM, B+) and PT Indika Energy Tbk (Indika, BB-), which are currently on Negative Outlook, are the most prone to a rating downgrade.
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Saturday, 08 May 21
LNG-TO-POWER INVESTORS IN THE PHILIPPINES RISK EXPOSURE TO $14 BILLION IN STRANDED ASSETS - IEEFA
High regulatory and financial uncertainty in the Philippines market
The race to develop liquified natural gas (LNG) facilities in th ...
Saturday, 08 May 21
THE COAL-TO-RENEWABLES TRANSITION TAKES OFF - IEEFA
Pre-Biden changes underscore coming 10-year wave of coal plant retirements
The traditional S-curve growth exhibited by disruptive te ...
Friday, 07 May 21
CHINA'S TOTAL COAL IMPORTS FOR 2020 REACHED A VOLUME OF 304 MILLION TONS - ASSOCARBONI
Our benchmarks, manufacturing Countries like China, Germany, Japan, India, South Korea and Taiwan will continue to use a mix of coal and nuclear to ...
Friday, 07 May 21
SEABORNE WORLD COAL TRADE CLOSED 2020 IN NEGATIVE - ASSOCARBONI
Coal confirmed its leadership as leading fuel for electricity generation also in 2020, accounting for 38% of overall production. For the first time ...
Friday, 07 May 21
INDONESIA'S THERMAL COAL EXPORTS IN 2020 DECREASED BY 13%; INDIA REMAINED THE TOP DESTINATION FOR INDONESIAN COAL - ASSOCARBONI
An increase in seaborne trade is forecast for 2022, driven by markets in Southeast Asia, where growing demand for coal from Bangladesh, the Philipp ...
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- Australian Coal Association
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
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