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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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Monday, 06 December 21
CHINA SETS 2022 ANNUAL THERMAL COAL PRICES AT 700 YUAN/T - MEDIA: REUTERS
China’s top economic planner has proposed to set annual thermal coal prices for 2022 at between 550 yuan and 850 yuan ($86-$133) per tonne, a ...
Thursday, 02 December 21
BUMI RECORDED US$ 666.18 MILLION AS REVENUE IN THE 3RD QUARTER, UP 13.31% YOY
PT Bumi Resources Tbk and its subsidiaries have recorded a surge in revenue in the third quarter of 2021. BUMI has recorded US$ 666.18 million as r ...
Thursday, 02 December 21
CHINA'S COAL CRUNCH IS OVER, BUT PRICES ARE STILL TOO HIGH - REUTERS
China’s coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter.
...
Wednesday, 01 December 21
2022 OUTLOOK: INDONESIAN COAL MINING - FITCH RATINGS
Fitch Ratings has a neutral outlook on the Indonesian coal sector for 2022.
Earnings generation should slow down as selling pr ...
Wednesday, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
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- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- White Energy Company Limited
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
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