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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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Thursday, 17 December 20
CHINA'S BAN IS LESS OF A THREAT TO AUSTRALIA'S COAL INDUSTRY THAN INTERNATIONAL CLIMATE AMBITION - IEEFA
Australian coal exporters will survive this near-term political fight but there are longterm structural headwinds
The decision by Ch ...
Thursday, 17 December 20
BUMA SIGNED US$1.0 BILLION WORTH OF EXTENSION CONTRACT WITH BERAU COAL
PT Bukit Makmur Mandiri Utama, subsidiary of PT Delta Dunia Makmur Tbk., has extended its mining services contracts with PT Berau Coal, in relation ...
Wednesday, 16 December 20
INDONESIA 2020 COAL CONSUMPTION ESTIMATED AT 140-145 MLN TONNES - OFFICIAL, REUTERS REPORTED
Indonesia’s domestic coal consumption is estimated at 140-145 million tonnes this year, Dodik Ariyanto, an official at the energy ministry, t ...
Wednesday, 16 December 20
RUSSIA REVISES DOWN EXPORT EXPECTATION - FITCH
The Ministry of Economy of Russia, the world’s third largest thermal coal exporting country, released its annual forecasts ...
Wednesday, 16 December 20
INDIAN COAL IMPORTS TO REMAIN SUBDUED - FITCH RATINGS
Fitch Rating commented on Indian Coal Imports, Fitch said, coal imports by Indian utilities fell by about 24% yoy to 44 million tonnes (mt) i ...
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- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Mjunction Services Limited - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
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