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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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Monday, 28 July 14
Q3' 14, SUB-BIT FOB INDONESIA COAL SWAP GAINED $ 0.08 DAY ON DAY AND $ 0.68 WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 increased by just US$ 0.08 day on day and US$ 0.68 week on week. The swap was lost U ...
Monday, 28 July 14
S. KOREA'S KOSPO SEEKS 148K T OF 4700 NAR COAL
COALspot.com: Korea Southern Power Co Ltd (KOSPO) is seeking 148,000 tonnes of 4,700 kcal/kg NCV steaming coal for shipment between October to Nove ...
Monday, 28 July 14
CFR SOUTH CHINA COAL SWAP SLIGHTLY UP WEEK ON WEEK
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. The swap for Q3, Q4 and Q1 2015 showing slight improvement ...
Sunday, 27 July 14
RAMADAN HOLIDAYS IN INDONESIA PUTTING PRESSURE ON CHARTER RATES FROM INDONESIA - VISTAAR INDIA
COALspot.com: The freight rates were almost steady as very slight improvement in BDI by about 1 pct. The BDI was at 739 points after improvin ...
Saturday, 26 July 14
COAL MINING COMPANIES CLOSED TEMPORARILY - THE JAKARTA POST
The Sarolangun regency administration in Jambi has suspended the operations of 10 coal mining companies in line with a circular issued by Regent Ce ...
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- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- White Energy Company Limited
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
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