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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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Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scramble ...
Tuesday, 06 December 22
INDIA'S COAL PRODUCTION RISES 17% IN APR-NOV PERIOD - PTI
The country’s coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal.
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Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
Indonesia aims to establish a coal fund agency and start collecting a coal levy in the first quarter next year, to help ensure supply security for ...
Saturday, 03 December 22
COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
Friday, 02 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
COALspot.com: The cost of coal is falling so fast that it is beginning to put real money back in the pockets of end-users.
Indonesia ...
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- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
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