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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
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