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Sunday, 01 November 20
GRADUAL RECOVERY FOR INDONESIAN COAL FROM 4Q20; RISKS REMAIN - FITCH RATINGS
 Fitch Ratings expects the credit metrics of Indonesian coal miners and coal contractors to improve from 4Q20 with the recovery in volumes and prices. Fitch also expects the recovery to continue into 2021, as we do not envisage a second round of strict lockdowns.
Fitch has revised its full-year coal-price assumptions, and also assumes lower volumes of 84%-89% of 2019 levels in 2020, reflecting weaker seaborne coal demand, before recovering gradually in 2021. There are further downside risks to volumes beyond our estimates, from a sustained weakness in coal prices.
Fitch also said, credit metrics of most Indonesian miners and contractors are likely to decline in 2020 close to - or beyond - our negative rating action triggers, affected by lower profitability and weaker volumes before recovering in 2021. Recurring sporadic lockdowns are likely to delay revival in economic growth, and in turn hurt demand for coal in key import markets.
Fitch also said, we envisage the ratings on most of the Indonesian coal companies to be at risk if the current weak coal price and demand environment continues into 2021. PT Bukit Makmur Mandiri Utama (BUMA, BB-), PT ABM Investama Tbk (ABM, B+) and PT Indika Energy Tbk (Indika, BB-), which are currently on Negative Outlook, are the most prone to a rating downgrade.
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Tuesday, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
Friday, 13 November 20
SHIPPING OUTLOOK TURNS STABLE ON EBITDA GROWTH, IMPROVING SUPPLY-DEMAND BALANCE - MOODY’S
Outlook revised to stable from negative.
The global shipping industry is on course to perform better overall than we had previously ex ...
Friday, 13 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Monday, 09 November 20
INDONESIA MAY CUT BIODIESEL USE TARGET AS SUBSIDY FUND DEPLETES - FITCH
The Indonesian government may rein in its push to increase use of biodiesel as it now comes at higher cost following a fall in crude oil prices and ...
Monday, 09 November 20
SOUTH AFRICA: COAL MARKET CONDITIONS HAVE ' DETERIORATED MATERIALLY' - IEEFA
The Asian seaborne thermal coal pool is drying out
Resource Generation Ltd’s proposed but long delayed Boikarabelo coal mine i ...
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- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
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