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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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- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Marubeni Corporation - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Africa Commodities Group - South Africa
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