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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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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Australian Coal Association
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
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