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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, 25 July 14
U.S WEEKLY COAL PRODUCTION UP AROUND 3.5% WEEK ENDED JULY 19
COALspot.com – United States the world's second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Thursday, 24 July 14
INDONESIA'S JUNE 2014 COAL EXPORT VOLUME DOWN 6.82%; AVERAGE SELLING PRICE DOWN
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.70* ...
Thursday, 24 July 14
HANDY: SOUTH AFRICA SOFTENED A BIT, HERE RATES ARE AT AROUND 8K +150K BB FOR TRIPS EAST - FEARNLEYS AS
Handy
The handy market in the Atlantic is going sideways and a tick down on low activity. Levels hoovering around USD 5k on Supras. The SMX marke ...
Thursday, 24 July 14
INDONESIAN COAL EXPORTERS ARE REQUIRED TO OBTAIN ET-BATUBARA UNDER LATEST TRADE MINISTRY'S NEW REGULATION
COALspot.com: Indonesia's trade ministry has issued regulation No. 39/M-DAG/PER/7/2014 which is requires exporters of power plant coal as ...
Wednesday, 23 July 14
PANAMAXES WERE BACK ON A DOWNWARD COURSE; CAPES WERE FEELING THE MOST PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market was on a downward spiral this week, with the BDI noting another week-on-week decline of the magnitude of 10% this ...
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- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- The University of Queensland
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
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