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Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
 COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a potentially positive credit impact for a number of Asia-Pacific sovereigns if the lower prices are sustained below USD90/bbl through 2015, in line with our latest forecast, says Fitch Ratings.
Most major Asian economies - including China, Japan, Korea and Thailand - would see an effective overall income boost from sustained lower oil prices. In addition, countries with large oil import needs facing external adjustment pressures such as Indonesia and India are among the best positioned to see a positive impact on sovereign credit profiles, although the broader policy response will matter too.
All but one of the Fitch-rated APAC sovereigns are net oil importers. Net oil import bills range significantly, from greater than 10% of GDP for Thailand to less than 2% for Bangladesh and Vietnam. Korea, Japan and China have net import bills of 6%, 3% and just over 2% of GDP, respectively.
For consumers, there would be a positive consumption effect from falling retail energy prices. Disinflation as a result of lower oil prices could also contribute to GDP growth less directly in some countries, by facilitating a more accommodative monetary policy than would otherwise be followed. Notably, several key Asian economies, including Japan, have been increasingly relying on liquefied natural gas (LNG) as part of their energy mix, and Asian LNG prices are linked to Brent crude.
A combined positive impact on fiscal accounts, economic growth and terms of trade, would be particularly beneficial for the sovereign credits of countries which are both net oil importers and facing external adjustment pressures, including Indonesia and India. Lower oil prices will help to ease the trade-offs faced by these economies as they aim to bolster growth while reducing external account deficits.
Beyond the macroeconomic growth effects, the fiscal impact could also be significant for several south and south-east Asian sovereigns. Both the Indian and Indonesian governments have already taken advantage of the price decline. In India, diesel prices were deregulated on 18 October. The direct impact on our headline fiscal forecasts is expected to be limited, while this will make the fiscal accounts more robust against future oil shocks, since both diesel and petrol prices are now determined by the market.
In Indonesia, the new administration under President Joko Widodo raised the administered price of fuel by over 30% on 18 November. Roughly 15% of total government spending (2.4% of GDP) is allocated to fuel subsidies, according to the state budget. In addition to direct effects on the state budget, the price hike provides a clear, positive signal of the new government's intentions to swiftly implement its reform agenda.
However, the extent to which sovereigns are able to realise the potential fiscal benefits will be determined at least partly by how policy makers respond - whether they use budget windfalls to increase spending or reduce deficits.
Fitch has lowered its forecast for the price of Brent Crude to average USD87/bbl through 2015 and USD90/bbl for 2016 as part of our latest forecasting round, down from our September forecasts of USD100/bbl and USD95/bbl, respectively.
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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- The University of Queensland
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
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