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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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Wednesday, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...
Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...
Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies
The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
Monday, 29 June 20
CHINA COAL IMPORT OUTLOOK: MANY MOVING PARTS, FORECAST TO FALL 10% YOY - GHEE PEH | IEEFA
China’s coal demand declined in the first quarter of 2020. According to the China National Coal Association, the country consumed 870mt in th ...
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- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Planning Commission, India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
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