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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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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
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