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.
|
|
Thursday, 05 September 13
DRY BULK MARKET ON A HIGH ROLL, MAINLY THANKS TO CAPESIZE APPETITE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize owners have been rejoycing on the back of renewed optimism for the further rise in the dry bulk market's freight rates, especially when on ...
Wednesday, 04 September 13
RBCT SHIPPED 16.18 PERCENT MORE COAL IN JULY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest coal export terminal South African as well as in the world has shipped 6,162, ...
Wednesday, 04 September 13
SUPRAS AND HANDIES : INDONESIAN COAL CARGOES ARE SUPPORTING HEALTHY ACTIVITY LEVELS - INTERMODAL
The Dry Bulk market has pooled back a bit this week after firming for two weeks in a row. The BDI is s holding above 1,100 points and despite the sm ...
Tuesday, 03 September 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 22.93 PER CENT MORE COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 22.93 per cent week on week to 3.39 million mt for ...
Sunday, 01 September 13
COAL SWAP SHOWS MIXED TREND
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery 1.25 percent up month on month. The swap was moved posit ...
|
|
|
Showing 4141 to 4145 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
|
| |
| |
|
