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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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Monday, 31 October 22
CHINA COAL OUTPUT UP 12.3 PCT IN SEPTEMBER - XINHUA
China’s raw coal output posted stable expansion in September, official data showed.
The country produced 390 million tonnes of ...
Wednesday, 26 October 22
BIMCO PUBLISHES UPDATED GENCON CONTRACT
BIMCO has published a revised and updated version GENCON 2022 – one of its flagship contracts within its portfolio of standard contracts for ...
Monday, 24 October 22
KOSPO TO INVITE 400,000 MT OF COAL FOR 3 YEARS
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an international tender for 400,000 MT of 3,800 - 4,400kcal/kg NCV and Sulfur Max 0 ...
Wednesday, 19 October 22
ASIA COULD BE A BRIGHT SPOT AMID GLOBAL DOWNTURN NEXT YEAR, ECONOMISTS SAY - CNBC
Asia — especially Southeast Asia — remains a bright spot, even as the global economy looks set to head into recession next year, econom ...
Wednesday, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
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- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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