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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, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Minerals Council of Australia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Australian Coal Association
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
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