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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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Thursday, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- The University of Queensland
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
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