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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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Saturday, 20 August 22
KOSPO TO IMPORT 240000 MT OF MIN 4400 KCAL/KG NCV STEAM COAL FOR OCTOBER;LOADING FROM RUSSIAN PORTS NOT ALLOWED
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 240,000 MT of min 4,400kcal/kg to max. 4,999 kcal/kg NC ...
Wednesday, 17 August 22
INDIAN COMPANIES SWAPPING DOLLAR FOR ASIAN CURRENCIES TO BUY RUSSIAN COAL - REUTERS
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoidi ...
Wednesday, 17 August 22
LNG: MAJOR INVESTMENT AND EXPANSION PHASE, DOUBLING OF LIQUEFACTION CAPACITY BY 2028 PROJECTED - CLARKSONS
Clarksons Research have released the latest version of their long standing annual review, LNG Trade & Transport, on to Shipping Intelligence Ne ...
Wednesday, 17 August 22
UNAFFORDABLE LNG PRICES UNDERMINE RAPID DEMAND GROWTH FORECASTS IN KEY ASIAN MARKETS - IEEFA
Sustained high prices may accelerate downward pressures on Asian LNG demand, clouding long-term industry outlooks
The global liquefi ...
Wednesday, 17 August 22
CHINA'S COAL-RICH SHANXI MAKES STRIDES IN HIGH-QUALITY DEVELOPMENT - XINHUA
Shanxi, a major coal-producing province in north China, has made continuous advances in high-quality development over the past decade, according to ...
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- Independent Power Producers Association of India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Minerals Council of Australia
- CNBM International Corporation - China
- PTC India Limited - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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