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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, 31 October 22
CHINA COAL OUTPUT UP 12.3 PCT IN SEPTEMBER - XINHUA
China’s raw coal output posted stable expansion in September, official data showed.
The country produced 390 million tonnes of ...
Wednesday, 26 October 22
BIMCO PUBLISHES UPDATED GENCON CONTRACT
BIMCO has published a revised and updated version GENCON 2022 – one of its flagship contracts within its portfolio of standard contracts for ...
Monday, 24 October 22
KOSPO TO INVITE 400,000 MT OF COAL FOR 3 YEARS
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an international tender for 400,000 MT of 3,800 - 4,400kcal/kg NCV and Sulfur Max 0 ...
Wednesday, 19 October 22
ASIA COULD BE A BRIGHT SPOT AMID GLOBAL DOWNTURN NEXT YEAR, ECONOMISTS SAY - CNBC
Asia — especially Southeast Asia — remains a bright spot, even as the global economy looks set to head into recession next year, econom ...
Wednesday, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
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- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- The Treasury - Australian Government
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Australian Coal Association
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
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