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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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Monday, 26 October 20
'LONG ASCENT' TO RECOVERY OF GLOBAL GROWTH - BALTIC EXCHANGE
The global economy has so far avoided a “financial catastrophe” but growth projections from the International Monetary Fund’s lat ...
Friday, 23 October 20
SHIPPING LOANS AND COLLATERAL DAMAGE - VICTOR ONYEGBADO, AKABOGU & ASSOCIATES
KNOWLEDGE TO ELEVATE
Shipping finance transactions are characterised by peculiar risk factors principally on account of the shipping asset&rsq ...
Friday, 23 October 20
WHAT WILL THE 2020 ELECTIONS MEAN FOR US ENERGY? - WOOD MACKENZIE
The 2020 elections present American voters with a choice between two radically different visions for the future of energy. President Donald Trump r ...
Wednesday, 21 October 20
BRAZIL EXPORTED 238.7 MLN TONNES OF IRON ORE IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
Brazil’s iron ore exports have been gradually but steadily recovering following a disastrous winter period of 2019/2020. In the first 9 month ...
Wednesday, 21 October 20
INDIA: THE COMMERCIALISATION OF COAL BLOCKS WILL BENEFIT THE ECONOMY - HINDU BUSINESS LINE
As the government of India receives 76 bids for 23 coal mines against the 38 up on auction, what does this commercialisation of coal block allocati ...
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- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Australian Coal Association
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
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