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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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- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- The University of Queensland
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Central Electricity Authority - India
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