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.
|
|
Monday, 22 September 14
CFR SOUTH CHINA COAL SWAPS LOST ON DAY, WEEK AND MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 3.10 (-4.50%) month over month and $ 0.95 PT MT week over ...
Monday, 22 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.35 (+0.69%) day on day and lost US$ 0.30 (-0.58%) per mt week on week. ...
Sunday, 21 September 14
CAPE INDEX LOST 17% W-O-W ; BALTIC DRY PLUNGES 106 POINTS
COALspot.com: This week the freight market softened a bit compared to last week.
BDI fell 8.97% week on week and closed BDI at 1075 points on ...
Friday, 19 September 14
U.S. WEEKLY COAL PRODUCTION RELATIVELY FLAT AT +0.1% - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 19 September 14
PRICES FOR DRY BULK CARRIERS HAVEN'T CORRECTED ENOUGH, DESPITE LOWER THAN EXPECTED FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lot has been said and written about the looming dry bulk market recovery over the past few months. However, even if this hasn’t been materi ...
|
|
|
Showing 3476 to 3480 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
|
| |
| |
|
