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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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Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
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