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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Electricity Authority, New Zealand
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