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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
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