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.
|
|
Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
|
|
|
Showing 16 to 20 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
|
| |
| |
|