We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
 The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Ratings says. While we expect most countries to be able to close their financing gap with the support of official creditors, liquidity pressures will remain high through the year. Export receipts will drop and external support inflows will be insufficient to stem the fall in international reserves.
Angola (B-/Stable), the Republic of Congo (CCC), Gabon (CCC), Nigeria (B/Negative) face a sharp deterioration of fiscal and external balances and increasing financing challenges due to the impact of the double shock of lower oil prices and the coronavirus pandemic, which underpinned recent downgrades. Fitch forecasts the Brent oil price at USD35/bbl in 2020 and USD45/bbl in 2021.
Sub-Saharan African oil producers entered 2020 with high debt levels and limited fiscal space. We expect them to post fiscal deficits between 4% and 6% of GDP in 2020. This assumes lower oil prices and a contraction of oil production due to maturing oil fields, low investment and OPEC+ quotas, along with a moderate impact of measures taken to stem the pandemic. Government debt will soar from already high levels and exceed 115% of GDP in Angola and Congo.
Government financing needs will rise. Shallow domestic markets in Angola, Gabon and Congo combined with weak public finance management for the latter two could put liquidity under stress and could threaten the timely repayment of debt. However, governments are making Eurobond payments a priority containing the risk of defaults.
We still expect Angola to be able to close its funding gap with financing from external official creditors in 2020 and by drawing on funds from the sovereign wealth fund, but risks are high. Congo is particularly exposed to liquidity risk given the uncertainty surrounding the renegotiation of the oil-traders' debt and its linkages with financing. While liquidity risks have risen in Gabon, debt sustainability could remain stronger than for 'CCC' peers in our baseline scenario. Nigeria's credit profile is more resilient as the sovereign is less vulnerable to short-term financing stress due to its deeper domestic debt market.
Angola, Congo, Gabon and Nigeria's current account deficits will not be fully covered by increased external borrowing, reducing external buffers. Congo and Gabon will face acute external liquidity strain, raising pressure on the CEMAC peg to the euro, although devaluation in the near term is not our base-case scenario. Angola will face continued pressure on its already severely devalued currency, increasing the burden of external debt service. Nigeria will contend with outflows of foreign portfolio investments, which could put pressure on the peg.
Source: Fitch Ratings
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
|
|
|
Showing 841 to 845 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
|
| |
| |
|
