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Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
 Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high, even as they moderate from unprecedented levels in 2022. This should keep net leverage at manageable levels for most Fitch-rated entities, supporting adequate rating headroom.
We forecast the sector’s median EBITDA-based net leverage to remain low at 0.5x in 2023 (2022: 0.3x), underpinned by strong earnings, with coal prices staying above pre-2022 levels. Cash outlays are likely to be driven by diversification-related investments, with some miners initiating projects to move away from thermal coal amid investors’ heightened ESG concerns and tightening funding access. Nevertheless, most entities have sufficient cash buffers to support these investments. We expect capex requirements at most entities, except at PT ABM Investama Tbk (B+/Stable), to remain low, as none have major growth plans.
We also expect entities with a high accumulated cash balance to continue bond buy backs over the next 12 months, taking advantage of price discounts on their bonds to reduce debt and interest expenses. We believe the buy backs will lower refinancing requirements and improve companies’ financial flexibility amid the sector’s evolving funding access due to environmental considerations.
Source: Fitch Ratings
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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
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