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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, 01 August 20
ASIA HOPE FOR LONG-TERM OIL DEMAND - BALTIC BRIEFING
Oil demand in Asia Pacific might be expected to plunge 1.8m barrels per day (bpd) this year, but there are still strong prospects for growth over t ...
Friday, 31 July 20
SHORT-TERM IMPACT ON THE CHEMICAL SHIPPING MARKET IF THE INDIA-CHINA DISPUTE ESCALATES - DREWRY
Due to the India-China dispute, the threat of deteriorating trade relations between the two countries has become real. Meanwhile, we expect freight ...
Friday, 31 July 20
PANAMAX: THE PERIOD MARKET REMAINS QUIET WITH FEW FIXTURES REPORTED - FEARNLEYS
Capesize
After weeks of dropping rates, there are finally some resistance for the Capes. Pacific rounds improving to upper15,000s by the middle ...
Friday, 31 July 20
PANDEMIC SENDING SOUTH AFRICAN COAL INDUSTRY TO EARLIER GRAVE - IEEFA
Could South Africa’s coal export industry, one of the largest in the world, be about to take a severe hit from the coronavirus?
...
Friday, 31 July 20
BOTSWANA PLANS MORE COAL-FIRED POWER AS AFRICAN SOLAR ACCELERATES - IEEFA
An African economic leader like Botswana should embrace solar to reduce subsidies and tariff hikes
As Sub-Saharan solar ambition has ...
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- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- The University of Queensland
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
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