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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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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- The University of Queensland
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
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