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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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Wednesday, 03 September 14
KOREA MIDLAND POWER CO. LTD INVITES BIDS FOR 1 MMT OF BITUMINOUS & SUB-BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: KOMIPO again in the market for 1 million tons of 5700 NAR and 4600 NAR coal for Jan – March 2015. South Korean state-owned util ...
Wednesday, 03 September 14
CFR S.CHINA COAL SWAP FOR JAN 2015 DELIVERY CLOSED AT $ 68.30 PMT; DOWN 2.43% W-O-W
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.95 (-1.39%) day on day and US$ 1.40 (-2.03%) week on wee ...
Tuesday, 02 September 14
BERAU COAL HAS AWARDED A CONTRACT EXTENSION TO BUMA FOR 647 MLN BCM OVERBURDEN REMOVAL
COALspot.com: PT Delta Dunia Makmur Tbk (“DOID”) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama (&l ...
Monday, 01 September 14
GLOBALCOAL WELCOMES TWO NEW MARKET MEMBERS
COALspot.com: globalCOAL® announced today that two Market Members have joined its trading community. Both new Market Members are from the India ...
Sunday, 31 August 14
COAL FREIGHT RATES INTO INDIA FROM INDONESIA FIRM
COALspot.com: The freight market continued to firm this week. BDI up 5.42 percent week ended 29 August and closed at 1147 points while the Ca ...
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- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- The University of Queensland
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
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