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.
|
|
Thursday, 30 June 22
INVESTMENT IN GLOBAL COAL SUPPLY CHAIN TO HIT $115 BN IN 2022, LED BY CHINA AND INDIA - BUSINESS LINE
At over $80 billion, China and India are anticipated to make up the bulk of global coal investment in 2022, says IEA.
The investment ...
Wednesday, 29 June 22
LNG MARKET REMAINS TIGHT - INTERMODAL
LNG market remains tight currently, mainly driven by the US LNG outage from the recent fire in Freeport LNG terminal together with the recent fall ...
Wednesday, 29 June 22
CHINA'S NEW PLAN FOR RENEWABLE ENERGY DEVELOPMENT FOCUSES ON CONSUMPTION - FITCH RATINGS
China’s focus on consumption penetration for renewable energy development in its recently released 14th five-year plan – 2021 to 2025 & ...
Thursday, 16 June 22
MARKET INSIGHT - INTERMODAL
Picking up from my last insight in March, on the early days of the invasion, it's worth pointing out the way that the fast-paced working enviro ...
Saturday, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
|
|
|
Showing 316 to 320 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Economic Council, Georgia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
|
| |
| |
|
