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Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
 Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high, even as they moderate from unprecedented levels in 2022. This should keep net leverage at manageable levels for most Fitch-rated entities, supporting adequate rating headroom.
We forecast the sector’s median EBITDA-based net leverage to remain low at 0.5x in 2023 (2022: 0.3x), underpinned by strong earnings, with coal prices staying above pre-2022 levels. Cash outlays are likely to be driven by diversification-related investments, with some miners initiating projects to move away from thermal coal amid investors’ heightened ESG concerns and tightening funding access. Nevertheless, most entities have sufficient cash buffers to support these investments. We expect capex requirements at most entities, except at PT ABM Investama Tbk (B+/Stable), to remain low, as none have major growth plans.
We also expect entities with a high accumulated cash balance to continue bond buy backs over the next 12 months, taking advantage of price discounts on their bonds to reduce debt and interest expenses. We believe the buy backs will lower refinancing requirements and improve companies’ financial flexibility amid the sector’s evolving funding access due to environmental considerations.
Source: Fitch Ratings
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Tuesday, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
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