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Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
 The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly diverged from prices and indices for lower-grade coal, such as the Indonesian Coal Index4 (ICI4), since mid-2018. Fitch Ratings has observed the effect of this in the wider discounts in the coal price realisations of rated Indonesian coal miners compared with the Newcastle 6,000kcal index.
The coal that meets the Newcastle 6,000kcal specifications is generally supplied by a few large Australian miners and consumed mainly in Japan and South Korea. In our opinion, the consolidation of producers of Australian thermal coal has allowed tighter control over supply, resulting in its price movement pulling away from the Chinese Qinghuangdao (QHD) 5,500kcal coal price index and ICI4 benchmark. In contrast, the QHD coal price index to a large extent reflects the domestic production, supply and government policies for coal in China and the exchange rate between the yuan and the US dollar. The Newcastle index's decline in the past few months has been slower than that of the QHD index.
Indonesia exports the majority of its coal to China and we expect the QHD index to be a bigger driver of Indonesian low calorific value (CV) coal prices than the more popular Newcastle 6,000kcal index. This is already apparent in the ICI4 index trading at a relatively stable discount of between 50% and 59% since 2015 to the QHD 5,500kcal index, compared to discounts of between 40% and 66% versus the Newcastle 6,000kcal index. The ICI4 index drives the earnings profiles of most Indonesian miners, including the five that are rated by Fitch. The recent weakness in Indonesian coal prices is due to a rise in supply driven by the government's effort to boost its forex reserves and lacklustre domestic demand growth.
Fitch Ratings has factored in the wider spread in its analysis of Indonesian coal companies by using larger discounts to the Newcastle 6000kcal benchmark. Further, Fitch uses mid-cycle commodity price assumptions, given its policy of rating through-the-cycle, which limits the impact of the bigger gap. Our coal price assumptions (Newcastle 600kcal/kg benchmark) used for forecasts are USD79/tonne in 2019, USD77/tonne in 2020 and USD74/tonne thereafter, compared with the current market price of over USD100/tonne. Fitch believes that the bigger discounts of prices for low-to-mid CV coal relative to the Newcastle 6000 kcal price are themselves not likely to affect the credit profiles of Fitch-rated Indonesian coal companies.
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Friday, 12 April 19
OFFSHORE MENA CONGRESS 2019
Offshore MENA Congress 2019
Event Date : 11-12th Jun. 2019
Location : Cairo, Egypt
Offshore MENA Congress 2019 Offshor ...
Friday, 12 April 19
U.S : MORE THAN 7 GW OF COAL-FIRED GENERATION IS SCHEDULED TO RETIRE BY THE END OF 2020 - EIA
EIA estimates that U.S. coal production decreased by 19 million short tons (MMst) (2%) in 2018, totaling 756 MMst.
EIA also expects ...
Friday, 12 April 19
GLENCORE WINS $520 MILLION DEAL TO SELL COAL TO MEXICO - REUTERS
Global trader Glencore has won contracts worth around $520 million to supply 4.94 million tonnes of coal to Mexico, state-run power utility the Fed ...
Thursday, 11 April 19
AUSTRALIAN COAL IN THE FRONTLINE OF CHINA'S SUPPLY GLUT - AUSTRALIAN FINANCIAL REVIEW
Australian coal will be hardest hit as China cuts foreign imports of its key energy source to tackle oversupply, and implements policies favouring ...
Wednesday, 10 April 19
COALTRANS ASIA - TAKE PART IN THE LARGEST COAL EVENT IN THE WORLD!
Take part in the largest coal event in the world!
Coaltrans Asia is back this June bringing together the entire international coal s ...
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Showing 1421 to 1425 news of total 6871 |
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- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
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