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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, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- White Energy Company Limited
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
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