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Tuesday, 25 August 15
INDONESIA MINERS' NPLS TO RISE FURTHER, BANK RISKS BUILD - FITCH
 The NPLs of Indonesian mine and mine services companies are likely to rise further in the short term, says Fitch Ratings, after reaching multi-year highs thus far in 2015. A combination of sustained weak coal prices and over-supply will continue to challenge the credit profiles of the mining sector, with smaller miners most at risk. This will have a major impact on mining sector-related asset quality at Indonesia's banks, though their credit remains well-buffered by strong capitalisation.
Thermal coal prices have continued to decline amidst weak demand, especially from China, and Fitch does not foresee a near-term catalyst to reverse this downtrend.
The Indonesian benchmark coal reference price has more than halved since its peak in 2011, while falling by 9% year-to-date. As prices fell steadily, miners sought to boost production through to end-2014 to compensate for lower cash margins per unit sold, further exacerbating the downtrend in prices.
This is changing, however, with Indonesia's total production falling by around 20% thus far in 2015. The six largest coal miners, which account for around 60% of Indonesia's total thermal coal production, are mostly maintaining their output. This means that medium- to small-scale miners are finally cutting production or have halted production entirely. A large share of the coal mining-related exposure of Indonesian banks is likely to be to medium- to small-scale miners - given the debt-free operations of some of the largest Indonesian thermal coal miners, and greater reliance on debt capital markets or international banks.
That said, maintaining production at a time of falling prices has not been sufficient to halt a marked decline in revenue and profitability among all of the large miners since FY11, and this downward trend is likely to continue in FY15 and FY16.
The weakening position of mining and related sectors has contributed to deteriorating asset quality for the banking sector as a whole. The latest data for end-May shows NPLs as a percentage of gross loans rising to 2.6% versus 2.2% at end-2014. NPL formation has accelerated: NPL growth had risen to over 33% yoy in April, from 12% during the same period in 2014. Mining and mining-related construction have been among the hardest hit sectors, with NPLs rising to 3.4% for total mining and quarrying, and 5.5% for construction lending.
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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- ASAPP Information Group - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Planning Commission, India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
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