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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, 14 July 22
INDIA'S COAL IMPORTS HIT RECORD HIGH IN JUNE - REUTERS
India's coal imports hit a record high in June despite high global prices, data from three trade sources and Refinitiv ship tracking showed, as ...
Thursday, 14 July 22
CHINA'S JUNE COAL IMPORTS SLUMP AS TRADERS SHUN EXPENSIVE OVERSEAS CARGOES - REUTERS
China’s coal imports fell 33% in June from a year ago, with traders turning down expensive overseas cargoes in favor of domestic ones with ca ...
Wednesday, 13 July 22
KOWEPO TO IMPORT 2.79 MILLION TONS OF LOW TO MEDIUM COAL
COALspot.com: Korea Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1360k MT of Min.4400 kcal/kg NCV coal and Total 1 ...
Wednesday, 13 July 22
HAVE MINERS MISSED THE BOAT TO INVEST AND GET AHEAD OF THE ENERGY TRANSITION? - WOOD MACKENZIE
Miners are in rude health, benefiting from economic stimuli, the post-pandemic recovery and associated supply constraints. Initially the Ukraine wa ...
Wednesday, 13 July 22
MARKET INSIGHT - INTERMODAL
Taking the previous market insight a step further, market sentiment remains bullish regarding the overall ROI of scrubbers, facing tailwinds from a ...
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- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
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