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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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Tuesday, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
Tuesday, 17 December 19
BACK TO FUTURE FOR BUSH AS AUSTRALIA CONSIDERS MOVING AWAY FROM COAL NEWCASTLE - HERALD
Looking backwards could show the way forward for regional communities planning for a future beyond mining.
One of Australia’s ...
Tuesday, 17 December 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.01 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points, down 0.01 percent week on week.
The index, released by China Taiy ...
Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk new ...
Monday, 16 December 19
ULTRAMAX: A 63,000DWT SHIP FIXING DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, FOR RE-DELIVERY TO CHINA AT $11,000 - BALTIC BRIEFING
Capesize
It was one-way traffic for the Capesize market this past week, with all routes giving up value. While downward momentum may have slowe ...
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Showing 1241 to 1245 news of total 6871 |
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- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
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