We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
 COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative financial impact on a number of Indian power and steel companies, says Fitch Ratings.
The decision is broadly credit negative for these sectors, but should have no impact on the ratings of any Fitch-rated steel or power sector corporates.
According to Fitch, the decision to cancel 214 of 218 coal licences follows a ruling in August in which the SCI declared the licence allocation process as arbitrary and illegal. The cancelled licences include 46 producing or near-production blocks, and are owned largely by power and steel sector companies. The producing mines will be allowed to continue operations until March 2015, at which point they will be handed back to state firm, Coal India Limited, until they are sold as part of a new auction process.
Companies with cancelled licences will not receive any compensation on account of development expenditure incurred to date, meaning these will have to be written off. They can bid for the same coal blocks when they come back on the market, while it will be an open bidding process. Furthermore, they will now have to pay for externally sourced coal, resulting in higher operating costs. The SCI's decision also levies a fine of INR295/tonne on coal produced to date from the mines affected, which could amount to INR73bn (USD1.2bn), Fitch says in its latest research report.
The negative financial impact will vary significantly depending on the company. Current credit profiles are likely to remain intact for Fitch-rated steel and power companies. The ruling has no immediate direct impact on Tata Steel Limited (BB+/Stable) and Steel Authority of India Limited (SAIL, BBB-/Stable). All but one of their operational coal mines were allocated before 1993, which are exempt from the decision. In addition, SAIL's one operational mine which was allocated after 1993 was one of the four licences upheld by the SCI as valid. The cancellation of non-operational coal licenses will not hurt credit profiles, as these have not been factored into Fitch's long-term financial projections for these companies.
Power Company NTPC Limited (BBB-/Stable) could be more vulnerable to the decision, though Fitch maintains that the broader impact will still be relatively small. Pakhri Barwadih, an NTPC mine nearing production, has been exempt from the cancellation. The status of the other nine of NTPC's 10 coal blocks is uncertain, as it is not very clear if they are also exempt - owing to the fact that NTPC is a state-owned entity. The company had expected that its captive mines would be able to serve 4.3% of its coal requirements in FY15 - rising further to 15% by FY17.
The potential long-term effects of the decision on the wider power and steel sectors will depend largely on how quickly the government proceeds with re-auctioning the licences. This could lead to more efficient development of these coal blocks in the long term should the new process go quickly. Uncertainty regarding the original allocation process had previously contributed in part to the underdevelopment and utilisation of these blocks.
However, it is important to highlight that a new and transparent auction process is just one factor needed to boost coal production in India. Other key challenges remain, including tough environmental clearances and regulatory approvals.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 08 October 14
OIL COULD FALL TO USD80 BEFORE SHALE SUPPLY RESPONSE - FITCH
COALspot.com: Brent oil could fall as low as USD80 a barrel before triggering a self-correcting supply response with shale-oil drillers cutting inv ...
Wednesday, 08 October 14
IS THERE ANY BRIGHT SIDE ON THE DRY BULK SEGMENT? - YANNIS OLZIERSKY
In the movie “Life Of Brian”, a character on a nearby cross was singing the famous “Always look on the bright side of life” ...
Tuesday, 07 October 14
TAIPOWER TO IMPORT 525K MT OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com: Taiwan Power Company intends to procure 525,000 metric tons of low ash and extra low sulfur sub-bituminous coal for Taipower thermal ...
Tuesday, 07 October 14
SUB-BIT FOB INDONESIA COAL SWAP SHOWS A FLAT TO WEAK TREND THIS PAST WEEK
COALspot.com: Indonesian coal swaps November 2014 delivery flat week on week and gained US$ 0.10 (-0.20%) per mt day on day. The swap also lost US$ ...
Tuesday, 07 October 14
THE RIO TINTO CONFIRMS THAT NO DISCUSSIONS ARE TAKING PLACE WITH GLENCORE
COALspot.com: The board of Rio Tinto notes the recent press speculation regarding a possible combination of Rio Tinto and Glencore.The Rio Tinto bo ...
|
|
|
Showing 3446 to 3450 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- The University of Queensland
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
|
| |
| |
|
