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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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- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- The University of Queensland
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
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