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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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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- The University of Queensland
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
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