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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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Wednesday, 26 August 15
2Q'16 FOB INDONESIA COAL SWAP FALLS NEARLY 4.76 PER CENT M-O-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap was declined $ 2.20 (-5.13%) p ...
Tuesday, 25 August 15
MINER'S EARNINGS DROP ON FALLING COAL PRICES; Q2'16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 52.23 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Monday, 24 August 15
FOB NEWCASTLE COAL SWAPS HIT FRESH LOW, DIPPING BELOW $42 A TON
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 2.20 per MT (-5.01%) month over month to US$ 41.70 per mt. The swap ...
Monday, 24 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 48.65 PMT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.89 (3.74%) per MT month over month.
A commodity ...
Monday, 24 August 15
IS CHINA'S STEEL EXPORTS ENOUGH TO SUPPORT THE FREIGHT MARKET? - BIMCO
No, it’s not enough, you will need lower Chinese iron ore production too in order to keep growing imports of iron ore into China that will su ...
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- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Australian Coal Association
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
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