We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 29 June 22
APAC CORPORATE SECTOR OUTLOOKS SHIFT AMID GLOBAL SHOCKS - FITCH RATINGS’
 Fitch Ratings’ mid-2022 corporate sector outlook review revealed that the Asia-Pacific (APAC) region saw the largest number of sector outlook revisions globally, though the overall outlook remains neutral. The revisions were largely caused by global commodity price movements associated with the Russia-Ukraine war and the economic fallout from lockdowns under China’s ‘dynamic zero’ Covid-19 policy.
Fitch Ratings revised the outlook on two sectors – APAC oil and gas and Indonesian coal mining – to improving, from neutral, and the outlook on two further sectors – China engineering and construction (E&C) and APAC technology – to deteriorating, from neutral. The outlook on Chinese property developers remained unchanged, at deteriorating, following steep 1Q22 falls in new housing sales. We also expect capital market access to remain limited this year for most Chinese developers. The outlook on APAC’s five remaining sectors is neutral.
Fitch Ratings outlook revision for APAC oil and gas and Indonesian coal mining was based on our higher assumptions for oil, gas and coal prices following the invasion of Ukraine. Higher prices will boost cash flow for upstream and integrated oil and gas producers, part of which we expect to be used to pay down debt and improve credit metrics. Europe’s sanctions on Russian coal exports will become effective in August 2022, which could further increase demand for Indonesian coal.
According to Fitch Ratings, Chinese E&C activity was subdued in 1H22, due to the operational challenges caused by the country’s Covid-19 control measures. However, we expect construction activity to pick-up in 2H22, as the front-loading of local government special-bond issuance this year should lift infrastructure spending. That said, we believe China’s E&C sector is vulnerable to new Covid-19 outbreaks. If pandemic-related restrictions constrain construction in the next few months, it would be challenging for the sector to increase activity going into the winter months. The resulting challenges in collecting working capital could lead to liquidity pressure at Chinese E&C firms.
Within the APAC technology sector, China’s slower consumption spending, stringent Covid-19 lockdowns and the aftermath of last year’s regulatory tightening will dampen the short-term profitability and cash generation of its internet majors. Stringent pandemic lockdowns and the aftermath of last year’s regulatory tightening are also having adverse effects. Overall demand for APAC consumer hardware is weakening, exacerbated by the war in Ukraine and China’s lockdowns, while rising input costs will pressure profitability. We expect companies with limited ability to pass through incremental costs to customers to suffer the most in the heighted inflationary environment. Meanwhile, persistent chip shortages and various logistical issues will add to supply-side disruption. However, we expect robust demand for Indian IT services, supported by a strong digital transformation pipeline, and wage inflation in line with our previous expectations at end-2021. This should see revenue increase by a double-digit percentage.
The proportion of APAC corporates ratings at ‘CCC+’ or below, on Negative Outlook or on Rating Watch Negative dropped to 19% as of mid-June 2022, from 26% in 1Q22, after we revised the Outlook to Stable, from Negative, on the ratings of 13 Indian corporates. This followed our June 2022 Outlook revision on India’s sovereign rating (BBB-/Stable).
Fitch has taken eight upgrade actions and 54 downgrade actions on APAC corporates so far in 2022. Chinese property developers accounted for 38 of the downgrades and comprise 20 of the 60 corporates that remain on Negative Outlook, Rating Watch Negative or are rated at distressed levels of 'CCC+' or below.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 04 July 22
INDONESIAN COAL PRICE REFERENCE SLIGHTLY DOWN IN JULY
COALspot.com: Indonesian Coal Price Reference for July delivery drops 1.52 per cent month on month.
The Indonesian Coal Price Refere ...
Sunday, 03 July 22
CHINESE VICE PREMIER STRESSES CLEAN, EFFICIENT USE OF COAL - XINHUA
Chinese Vice Premier Han Zheng has stressed efforts to promote the clean and efficient use of coal, and pursue green, low-carbon and high-quality d ...
Sunday, 03 July 22
SOVEREIGN SECTOR OUTLOOK REVISED TO NEUTRAL ON UKRAINE WAR IMPACT - FITCH RATINGS
The deterioration in global sovereign credit conditions this year relative to our expectations at end-2021 has caused Fitch Ratings to change its g ...
Saturday, 02 July 22
GLOBAL SEABORNE COAL EXPORTS IN 2021 INCREASED BY 4.4% Y-O-Y TO 1147 MLN TONNES - BANCHERO COSTA
In the full 12 months of 2021, global seaborne coal exports increased by +4.4% y-o-y to 1147 mln tonnes, from 1099 mln tonnes in 2020, according to ...
Friday, 01 July 22
INDIA'S TOP CEMENT MAKER PAYING FOR RUSSIAN COAL IN CHINESE YUAN - REUTERS
India’s biggest cement producer, UltraTech Cement ULTC.NS, is importing a cargo of Russian coal and paying using Chinese yuan, according to a ...
|
|
|
Showing 306 to 310 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- PTC India Limited - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
|
| |
| |
|
