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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, 05 January 22
INDONESIA WARNS COAL SUPPLY CRUNCH NOT OVER AS CHINA PRICES RALLY - REUTERS
Indonesia has warned that its coal supply situation remains critical, ahead of Wednesday’s (Jan 5) review of its export ban, unnerving global ...
Tuesday, 28 December 21
INDIA'S ADANI NEARS FIRST COAL SHIPMENT FROM SHUNNED AUSTRALIAN MINE - REUTERS
India’s Adani Group ADEL.NS is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven- ...
Thursday, 23 December 21
COAL TO STAY AS MAJOR SOURCE OF ENERGY IN FORESEEABLE FUTURE: JOSHI - BUSINESS STANDARD
Coal will stay as a major source of energy in the foreseeable future as it is an affordable source of energy with substantial reserve, Parliament w ...
Thursday, 23 December 21
ANNUAL U.S. COAL-FIRED ELECTRICITY GENERATION WILL INCREASE FOR THE FIRST TIME SINCE 2014 - EIA
From December 20 through December 30, Today in Energy will feature some of our favorite articles from 2021. Today’s article was originally pu ...
Thursday, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the ...
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- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
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