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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
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