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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
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
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