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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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Friday, 28 August 15
DRY BULK SHIP OWNER OPTIMISTIC ABOUT FUTURE PROSPECTS OF THE MARKET: NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk ship owner Golden Ocean appeared optimistic on the long term prospects of the dry bulk market, mainly thanks to an expected resolution of ...
Friday, 28 August 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING AUGUST 22 ROSE FOR THE THIRD STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.5 million shor ...
Friday, 28 August 15
BANPU STRENGTHENS GROWTH PLAN
Coal Business: Asia-Pacific Synergies Increase Competitiveness for Premium Export Market.
Banpu Public Company Limited (BANPU) strengthens its ...
Thursday, 27 August 15
RATES FOR CAPES REMAINED ON A FREE FALL LAST WEEK - INTERMODAL
COALspot.com: Keeping everyone on their toes with the volatility seen in August, the Dry Bulk market undoubtedly remains a steady provider of chall ...
Wednesday, 26 August 15
MARKET INSIGHT - STRATOS TINIAKOS
It’s always interesting to comment on the market when big economies around the world are facing troubling times. Following the collapse of th ...
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- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Planning Commission, India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- PTC India Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
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