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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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Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Deloitte Consulting - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
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