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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, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- India Bulls Power Limited - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- White Energy Company Limited
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
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