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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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Friday, 30 April 21
HIGH-SULPHUR FUEL OIL SALES REBOUND AFTER PRE-IMO 2020 - BIMCO
HSFO sales are up 47.2% from Q1 2020, reaching 3.1m tonnes. This is however still less than a third of high-sulphur fuel sales in Q1 2019, before t ...
Wednesday, 28 April 21
MARKET INSIGHT - INTERMODAL
Despite the current challenges as a result of the global pandemic, 2021 is turning out to be a landmark year for the iron ore market with spot pric ...
Monday, 26 April 21
CHINA TO FURTHER CUT COAL USE IN 2021 - XINHUA
China aims to reduce the share of coal in its energy mix to less than 56% this year, according to a guideline released by the National Energy Admin ...
Wednesday, 21 April 21
COAL FINANCING COSTS HAVE SURGED IN PAST 10 YEARS - UNIVERSITY OF OXFORD - THE GUARDIAN
Coal financing costs have surged over the last decade as investors demand returns four times as high as the payoff required from renewable energy p ...
Tuesday, 20 April 21
US DOLLAR LIBOR TRANSITION IN ASSET FINANCE - WHERE ARE WE NOW? - WATSON FARLEY & WILLIAMS
Since our last article, there has been a raft of regulatory and market body announcements relating to the transition away from LIBOR and the follow ...
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- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Australian Coal Association
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
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