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Tuesday, 25 November 14
FISCAL BREAKEVEN OIL PRICES SHOW SOVEREIGN VULNERABILITY - FITCH
 COALspot.com: The vulnerability of the sovereign credit profiles of net oil exporters, as shown by their fiscal breakeven oil prices, suggests that these sovereigns fall into three categories, Fitch Ratings says.
Lower oil prices will primarily affect sovereign credit fundamentals through their fiscal and external positions. They generally pose the greatest risk to the credit profiles of sovereigns with high fiscal breakeven prices and that are already running fiscal deficits, such as Bahrain, Angola, Venezuela, and Ecuador.
The least vulnerable Fitch-rated sovereigns are Kuwait, Abu Dhabi, and Norway. As high per capita producers, they need to devote less of their oil revenues to meeting their populations' needs, giving fiscal breakeven oil prices well below prevailing prices. Large buffers have been built in recent years and these sovereigns should continue to record fiscal and external surpluses and strengthen buffers even if oil prices settle at current levels.
A third category exists for whom lower oil prices would push fiscal surpluses or close-to-balanced budgets into deficits from 2015, eroding fiscal and external buffers. For these sovereigns, ratings pressures could build in 2015 if prices do not recover but how quickly and to what extent this happens will depend on various factors, including the size of existing buffers (Saudi Arabia has the largest buffers in this category), the broader impact of cheaper oil on commodity-dependent economies (including those with significant buffers, like Russia), and policy responses that may accentuate or contain the impact of falling oil prices.
Policy responses could also contain the direct impact of prices on the most vulnerable sovereigns, although these may have knock-on effects on the sovereign credit profile.
Oil prices have fallen sharply, with Brent crude dropping from USD115/b in mid-June to close to USD80/b.
Fitch’s full report 'Oil: Fiscal Breakevens are a Key Guide to Exporter's Sovereign Credit Risk' is available to subscribers at www.fitchratings.com or by clicking the link.
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Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
Wednesday, 26 November 14
SHIPPING MARKET INSIGHT - EVA TZIMA
The tanker market has been enjoying some good returns lately. Ok, that may be a big understatement, but with all the ups and downs of the past year ...
Tuesday, 25 November 14
UK: TRIBUNAL RULES ON SPEED AND PERFORMANCE CLAIMS UNDER TWO CONSECUTIVE TIME CHARTERPARTIES - REED SMITH
KNOWLEDGE TO ELEVATE
“Owners not to be responsible if the vessel under the currency of this charter party stays at port or anchorage or ...
Tuesday, 25 November 14
FOB RICHARDS BAY COAL SWAP FOR Q4' 15 DELIVERY CLOSED AT US$ 68.20
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 gained month on month, week on week and day over day.
The Q1 swap has gain ...
Tuesday, 25 November 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT $ 49.55
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week.
The Q1 swap has lost US$ 0.12 (-0.24%) ...
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Showing 3346 to 3350 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Planning Commission, India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- The University of Queensland
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
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