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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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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
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