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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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Wednesday, 26 January 22
MARKET INSIGHT - INTERMODAL
While it is logical that most of the S&P reports of the first weeks of the year are linked to very limited activity as reflected in the weekly ...
Wednesday, 26 January 22
INDONESIA: DME PROJECT IS ECONOMICALLY VIABLE AS STUDY DEMONSTRATES
The government is encouraging downstream coal processing or increase in coal added value, for example by turning coal into Dimethyl Ether (DME) to ...
Wednesday, 26 January 22
COMMODITY PRICES COULD SOAR IF THE RUSSIA-UKRAINE CRISIS ESCALATES - ING
It appears that a number of commodity markets are starting to at least price in some geopolitical risk around the growing tension between Russia an ...
Wednesday, 26 January 22
INDONESIA'S COAL BAN SENDS PRICES SOARING, OTHER EXPORTERS FAIL TO STEP UP - REUTERS
Indonesia’s short-lived ban on exporting coal has sent ructions through the seaborne market for the fuel in Asia, with the fallout likely to ...
Friday, 21 January 22
CHINA'S POWER TRADING TARIFFS TO RISE IN 2022 - FITCH RATINGS
Rising trading volume and higher-than-benchmark tariffs in the 2022 bilateral contracts signed between Chinese power generation companies (gencos) ...
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Showing 366 to 370 news of total 6871 |
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- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
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