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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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- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
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