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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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Tuesday, 05 April 22
INDONESIAN COAL PRICE REFERENCE HITS RECORD ABOVE $288
COALspot.com: Indonesian Coal Price Reference for April in a steep climb from March 2022.
As expected, Russia – Ukraine war dr ...
Thursday, 31 March 22
CHINA STATE PLANNER ASKS COAL INDEX PROVIDERS TO RECTIFY IRREGULARITIES - REUTERS
China’s state planner has asked some major coal price index providers to rectify “severe irregularities” it had identified in the ...
Thursday, 31 March 22
IMPORTED COAL PRICES TO JUMP 55% IN APR-JUN, IMPACT INDIAN FIRMS: ICRA - LIVEMINT
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ...
Thursday, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
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- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
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