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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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Tuesday, 01 September 15
FOB INDONESIA COAL SWAPS FURTHER SLIDE TO US$ 40.62 PMT; DECLINE 5.34 PERCENT M-O-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and slightly dropped week over week.
The 4Q swap was declined ...
Tuesday, 01 September 15
FOB RICHARDS BAY COAL SWAPS STILL SLIDING; Q2'16 DELIVERY LOST AROUND 6 PERCENT M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 gain week over week but declined month over month.
The 4Q swap was dow ...
Monday, 31 August 15
API 5 FOB NEWCASTLE COAL SWAP GAINS WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.85 per MT (-4.23%) month over month to US$ 41.87 per mt. The swap ...
Monday, 31 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP ENDS DOWN MORE THAN 4 PERCENT MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.91 (3.78%) per MT month over month.
A commodity ...
Sunday, 30 August 15
THE DRY BULK MARKET UNDOUBTEDLY REMAINS WEAK & VOLATILE THIS WEEK
COALspot.com: The BDI slipped further down this week, moving closer to 900 level. This week’s BDI falls 9.15 pct and closed at 903 points. Wh ...
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- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- MS Steel International - UAE
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