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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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Tuesday, 22 July 14
INDONESIA'S MINERAL EXPORT BAN: CHINA UNDER PRESSURE? - CLARKSONS
In January 2014, Indonesia introduced new regulations on exports of unprocessed minerals. Exports of some minerals have been heavily taxed, whilst ...
Tuesday, 22 July 14
ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release: Registration Open for Fourth Annual Asian Sub-Bituminous Coal Users’ Group Conference
Register today for this year&r ...
Monday, 21 July 14
25% OF INDIA'S POWER PLANTS WERE HAVING SUPER CRITICAL COAL STOCK - COAL AND POWER MINISTER
25% of India’s power plants were having super critical coal stock; power utilities have also been advised to enhance the import of coal - Coa ...
Monday, 21 July 14
INDONESIA'S STATE CONTROLLED COAL MINER BUKIT ASAM ENJOYED HIGHER SELLING PRICE DURING THIS STORMY MARKET
COALspot.com: PT Bukit Asam, the Indonesian government controlled coal miner announced today that, the company has produced 7.70 million tons of co ...
Monday, 21 July 14
CFR SOUTH CHINA COAL Q3 DELIVERY SWAPS LOST 16% SINCE JANUARY 17, 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. Market is not showing any positive trend in near future.
...
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- PTC India Limited - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Planning Commission, India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- White Energy Company Limited
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
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