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Wednesday, 04 December 19
FITCH RATINGS: CASH FLOW GENERATION TO SLOW DOWN FOR INDONESIAN COAL MINERS
 Fitch Ratings' negative outlook on the Indonesian coal-mining sector reflects our view of weaker cash flow generation on account of declining coal prices. Fitch has revised down its mid-cycle coal-price assumptions, and expects USD80 and USD73 for Qinghuangdao 5,500kcal/kg and Australia Newcastle 6,000kcal/kg thermal coal, respectively, in 2020 (2019E: USD86 and USD77). We expect capex intensity to remain low for the sector; however, acquisitions might pick up in 2020, leading to higher leverage. Profitability is also likely to remain low, in light of weaker coal prices.
Fitch's stable rating outlook reflects the outlook for the majority of our rated entities: PT ABM Investama Tbk (B+) and Geo Energy Resources Limited (B-) are on Negative Outlook, reflecting the entity-specific weaknesses which could be stretched further in the weaker-coal-price scenario.
According to Fitch Ratings, the impact of lower profitability on credit metrics would be partially offset by volume ramp-up by some entities, such as PT Golden Energy Mines Tbk (B+/Stable) and PT Bayan Resources Tbk (BB-/Stable), where both have adequate reserve lives similar to other bigger players such as PT Adaro Energy (BBB-/Stable) and PT Indika Energy Tbk (BB-/Stable). We expect declining reserves to remain an issue for Geo Energy, which might also trigger a put option of its bonds in the absence of any acquisition. ABM's reserve quality is also deteriorating as reserves from its key mine are likely to fully deplete in the next two to three years.
Fitch Ratings further noted that, regulatory risks remain a potential disrupting factor in Indonesia, but Fitch considers any major changes to regulation as an event risk. We believe the two rated coal-miners - Adaro and Indika - which have their Coal Contracts of Work (CCoW) expiring in 2022 and 2023, respectively, will be able to satisfy the conversion guidelines.
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Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
Australia is bearing the brunt of China’s year-end coal import restrictions, ceding market share to other exporters including Russia and Mong ...
Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world ...
Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
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Showing 1221 to 1225 news of total 6871 |
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- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
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