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Wednesday, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
 Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but involve relatively small steps or lack specifics to support a meaningful improvement in the short-term. There are entrenched structural issues affecting the performance of the power sector of India and the solution would require a sustained and disciplined policy focus.
Fitch Ratings further said in its latest report that, the Indian budget for FY15, the finance minister announced several measures for the power sector. These include an extension of the tax holiday for power projects to March 2017 from March 2015, which we consider to be positive for investment activity. The budget also called for the provision of adequate quantity of coal to power plants commissioned by March 2015. However, the budget lacked very specific measures detailing how this will be achieved.
Fitch believes that it will not be possible to raise the production of coal significantly within a year. Aside from inadequate domestic production, infrastructure bottlenecks such as rail infrastructure also continue to act as a constraint to ensuring adequate coal supplies to power plants. Among the announced measures is the rationalisation of coal linkages to reduce transportation costs of coal; while this is a good measure, we believe such a reallocation of coal resources would have operational issues and can take some time to achieve.
Domestic coal production is much lower than the requirements of the power sector, and hence we think the coal shortage at various power plants will continue. India's total coal based power capacity at April 2014 was around 140 gigawatts (GW). This is expected to increase by around 15GW per year, which would require an additional 60 million tonnes of coal. There needs to be a sustained and long term plan in order to consistently increase domestic coal production.
The new administration has intensified pressure on Coal India Limited to improve its coal delivery. At the same time, the agency understands the government may revive coal pooling (i.e. pooled prices by combining both domestic and imported coal) as the country will have to import higher quantities of coal to support demand given that domestic production may be slow to ramp-up.
India also has around 20GW of gas based power plants which are severely affected due to the low availability of domestic gas. The budget also focuses on the renewable sector - most notably solar - for which there is an allocation of INR10bn for setting up solar plants in a few states and solar power driven agricultural pump sets.
The entire ecosystem of the power sector - from generation to distribution - needs to be strengthened. The financial health of the various state utilities needs to be improved through tariff rationalization and by addressing transmission and distribution losses.
About Fitch Ratings
For 100 years, Fitch Ratings has been making the future a little more predictable through independent and prospective credit ratings, commentary and research. Our global expertise draws on local market knowledge and spans the fixed-income universe. The additional context, perspective and insights we provide have helped the world’s investors fund a century of growth.
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Friday, 05 September 14
U.S. PRODUCED 19.2 MMST OF COAL LAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindust ...
Thursday, 04 September 14
INDONESIAN COAL MINERS MAY GET MORE TIME ON ROYALTIES - FITCH RATINGS
COALspot.com: Fitch Ratings says that coal miners in Indonesia are likely to get more time to repay the government the royalties that were set off ...
Thursday, 04 September 14
INDONESIAN COAL SWAPS SLIDE THIS PAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.90 (-1.68%) day on day and US$ 1.80 (-3.31%) per mt week on week. The ...
Thursday, 04 September 14
CAPESIZE : SENTIMENT REMAINS POSITIVE FOR Q3/Q4 - FEARNRESEARCH
Handy
The Atlantic market has experienced more activity this week. Rates for TA´s are up about 8% w-o-w, much lead by an increasing number ...
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- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
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