We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 04 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
For yet another time, the market seems to have its own drivers. After a very disappointing first half, the recent recovery in the shipping market i ...
Tuesday, 20 August 19
NORDEN HAS BEEN AWARDED A 3-YEAR CONTRACT FOR THE TRANSPORTATION OF COAL FROM INDONESIA TO HONG KONG
NORDEN has been awarded a 3-year contract with a power company in Hong Kong for the transportation of coal from Indonesia to Hong Kong.
...
Tuesday, 20 August 19
THE AUGUST 2019 INDONESIAN COAL PRICE REFERENCE POSTS THE FIRST MONTHLY GAIN SINCE AUGUST 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Monday, 19 August 19
INDONESIAN COAL RUNS, A 82,000DWT SHIP WAS FIXED DELIVERY CHINA VIA INDONESIA, REDELIVERY JAPAN, IN THE MID $16,000S - BALTIC BRIEFING
Capesize
The Capesize market was buoyant in both basins this week, posting gains across the board. After bottoming out the previous week, rates ...
Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
|
|
|
Showing 1346 to 1350 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
|
| |
| |
|
