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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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Monday, 26 October 20
'LONG ASCENT' TO RECOVERY OF GLOBAL GROWTH - BALTIC EXCHANGE
The global economy has so far avoided a “financial catastrophe” but growth projections from the International Monetary Fund’s lat ...
Friday, 23 October 20
SHIPPING LOANS AND COLLATERAL DAMAGE - VICTOR ONYEGBADO, AKABOGU & ASSOCIATES
KNOWLEDGE TO ELEVATE
Shipping finance transactions are characterised by peculiar risk factors principally on account of the shipping asset&rsq ...
Friday, 23 October 20
WHAT WILL THE 2020 ELECTIONS MEAN FOR US ENERGY? - WOOD MACKENZIE
The 2020 elections present American voters with a choice between two radically different visions for the future of energy. President Donald Trump r ...
Wednesday, 21 October 20
BRAZIL EXPORTED 238.7 MLN TONNES OF IRON ORE IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
Brazil’s iron ore exports have been gradually but steadily recovering following a disastrous winter period of 2019/2020. In the first 9 month ...
Wednesday, 21 October 20
INDIA: THE COMMERCIALISATION OF COAL BLOCKS WILL BENEFIT THE ECONOMY - HINDU BUSINESS LINE
As the government of India receives 76 bids for 23 coal mines against the 38 up on auction, what does this commercialisation of coal block allocati ...
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- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
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