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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, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
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