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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, 03 February 22
COAL SHORTAGE NOW AT ALARMING LEVELS, SAY ALUMINIUM PRODUCERS - IANS
With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Alumi ...
Wednesday, 02 February 22
HIGH COKING COAL PRICES PROVIDE GLIMPSE INTO STEELMAKING'S FUTURE - MCKINSEY
Last year was a volatile one in global commodity markets. Demand for coking coal, an essential raw material in the production of steel, was extreme ...
Wednesday, 02 February 22
INDONESIA'S RESTRICTIONS ON COMMODITIES RATTLE MARKETS, MORE MOVES LIKELY - REUTERS
In just the first month of this year, Indonesian policymakers have rattled global markets with restrictions on some of its biggest commodities expo ...
Wednesday, 02 February 22
CHINA'S TOP COAL PRODUCER FORECASTS 28 PCT PROFIT GROWTH IN 2021 - XINHUA
China Shenhua Energy Company Limited, one of the country’s biggest coal producers, said its net profits are expected to jump by 28 percent in ...
Wednesday, 02 February 22
COAL STORAGE IN CHINA’S POWER PLANTS NEAR RECORD HIGHS - XINHUA
Coal inflows into China’s power plants have picked up, bringing their coal storage to near record highs, the National Development and Reform ...
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- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Planning Commission, India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
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