We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 29 August 13
NO RATING IMPACT ON INDONESIAN ENERGY COMPANIES FROM RUPIAH DEPRECIATION - FITCH RATINGS
 Fitch Ratings says the credit profiles of rated Indonesian energy and utilities companies, including thermal coal producers, will largely remain unaffected by a weakening of the Indonesian rupiah, which has depreciated by 10% between February and August 2013.
According to Fitch's latest report, this is due to a high degree of USD-linked cash flows relative to the companies' USD-denominated liabilities and expenses, or strong linkages with and fiscal support from the state to entities that provide a public service obligation. Furthermore, many of the companies have limited near-term USD-denominated debt maturities.
PT Adaro Indonesia (BB+/Stable), PT Indika Energy Tbk (B+/Stable), and Star Energy Geothermal (B+/Stable) are insulated from the currency depreciation as their earnings are predominantly in USD. This provides a strong natural hedge to debt obligations, much of which are USD-denominated. Profit margins of thermal coal producers can benefit to an extent as some of their operating costs are rupiah-based.
The ratings of PT Pertamina Persero (Pertamina, BBB-/Stable) and PT Perusahaan Listrik Negara (PLN, BBB-/Stable) are not immediately affected as the ratings are equalised with that of the Republic of Indonesia (BBB-/Stable), owing to the strategic and operational importance of these entities to the state. Both PLN and Pertamina perform public service obligations, selling fuel and electricity below market prices for which they are compensated via a subsidy reimbursement mechanism. The weakened rupiah increases the operating costs of these two entities as raw materials - coal, gas and oil - will increase, resulting in a higher subsidy requirement from the government under the subsidy mechanism under which they operate. In the event the total subsidy requirement exceeds the approved annual budgetary allocation, Fitch believes the government will approve a higher budget to accommodate any additional amounts.
Given recent increases of certain petroleum products and the elections due in 2014, the prospect of further immediate electricity or fuel price increases may be limited. Both PLN and Pertamina have large capital expenditure requirements and the weakened rupiah will increase the outflow in local currency terms which will increase the financial leverage of these two entities than earlier forecast by Fitch. However, strong state support and ready access to funding markets underpin their liquidity profiles.
All Fitch credit ratings are subject to certain limitations and disclaimers. Please read these limitations and disclaimers by following this link:
Http://fitchratings.com/understandingcreditratings.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
|
|
|
Showing 46 to 50 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Planning Commission, India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- PTC India Limited - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
|
| |
| |
|
