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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, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- The University of Queensland
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
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