We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
 COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector in Indonesia is unlikely, despite the substantial number of distressed coal companies in the country. Sustained weakness in demand and an uncertain price outlook for Asian thermal coal have prompted the larger coal companies in Indonesia to preserve liquidity and focus on maximising returns from existing projects.
Coal prices have fallen by about 40% from the average prices in 2011, and are not expected to see any material improvement in the next 12-24 months, due to weak import demand from China and strong supply globally.
The larger Indonesian coal miners have already incurred sizable investments in greenfield and brownfield coal projects in the past two to three years, and now have large undeveloped resources. Fitch believes capex will be mostly limited to expanding production of existing assets and bringing some of the economically viable resources to production readiness. Investment spending by these companies on new coal assets will be muted until there is a meaningful recovery in coal prices.
Fitch believes any M&A will be limited to assets that can be relatively easily integrated into existing operations of potential suitors or mines than can be integrated with potential mine-mouth power generation projects supplying to the national grid based on long-term power purchase agreements. We also believe there could be some interest from overseas power generation companies, such as from India, to support their coal requirements in the home market. However, we believe such opportunities are limited compared to the number of distressed coal assets in Indonesia.
An additional obstacle for M&A is regulatory risk. These include national production (or export) caps, increased royalties for the newer (Izin Usaha Pertambangan/IUP) coal license holders (which make up the largest share of the distressed assets). Furthermore, most available greenfield mines are located in Sumatera, which generally contains low calorific value (CV) coals.
Presently, low CV coals face a higher degree of uncertainty in terms of pricing, given a potential ban (or punitive import taxes) on the import of these into China. Given the low energy content and higher investments required for logistics, monetising Sumatran coal has become increasingly more challenging.
Given the weak market conditions and outlook, access to funding, including bank debt and debt capital markets, has also been challenged, except for a very few large, profitable coal producers in Indonesia. This too is proving to be a constraining factor for consolidation.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...
Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...
Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...
Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...
Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...
|
|
|
Showing 3486 to 3490 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Planning Commission, India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
|
| |
| |
|
