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.
|
|
Sunday, 01 September 13
INDONESIA TO INDIA SPOT FREIGHT STAYS FIRM THIS WEEK - VISTAAR
COALspot.com: The freight market continued to be firm with even though the BDI and Cape index dropped by about 3 pct week on week.
The BDI was do ...
Friday, 30 August 13
US COAL PRODUCTION FELL 0.48 PERCENT WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.70 million short tons (mmst) of ...
Thursday, 29 August 13
HANDY: THE PACIFIC MARKET STARTED HEALTHY THIS WEEK - FEARNRESEARCH
Handy
The Pacific market started healthy this week. We have seen many bauxite, iron ore and few coal fixtures. Ships passing Singapore were able to ...
Wednesday, 28 August 13
THE BDI HAS MOVED TO LEVELS CONSIDERABLY STRONGER THAN THE BEGINNING OF THE YEAR - INTERMODAL
By George Bassakos
SnP Broker - Intermodal
We have already reached the end of August and whilst students are preparing themselves for another sc ...
Tuesday, 27 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMPED 15.59 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 15.59 per cent week on week to 2.76 million mt for ...
|
|
|
Showing 4146 to 4150 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- The University of Queensland
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
|
| |
| |
|
