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Tuesday, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
 The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies that are the principal retailers of petroleum products, says Fitch Ratings. The decision is also likely to lead to more private firms entering the diesel market in the medium term, resulting in greater competition.
The decision to deregulate diesel prices is well-timed in light of the recent decline in international energy prices. The expected direct impact of both the diesel reform and natural gas price hike on Fitch's headline fiscal forecasts is limited; but the fiscal balances will be more robust to future oil shocks, since both diesel and petrol prices are now determined by the market. Furthermore, implementation of these politically sensitive reforms demonstrates that the government continues to roll out structural reforms gradually, and suggests that more far-reaching structural reforms may be in the pipeline.
The national oil marketing companies - Indian Oil, Bharat Petroleum and Hindustan Petroleum - will be the principal direct beneficiaries of deregulation, and the decision is positive for these companies' standalone credit profiles. Under the previous rules, these retailers had to sell diesel (accounting for 40% of fuel sold) below market prices, and were partially compensated for the losses through the federal budget. Furthermore, the price control and subsidy system affected the working-capital positions of these companies, as there was a timing mismatch between the recognition of losses on sales and compensation from government - leading to higher debt.
The other beneficiaries are likely to be upstream oil companies such as Oil and Natural Gas Ltd and Oil India Ltd, which also bore a large part of the subsidy burden. These companies offered a USD56 per barrel discount to the national oil marketing companies - especially challenging when considering the fall in crude prices to around USD85. Fitch expects that the discount is likely to come down.
Fitch anticipates that deregulation will result in heightened competition for the existing dominant national retailers, and could hurt their profitability over the medium to long term. By allowing diesel to be marketed profitably, the sector will once again be attractive for private companies that had left when price restrictions were put in place. A large portion of the output of private refiners is exported, due in part to the restrictions placed on domestic sales. Private firms such as Reliance Industries and Essar Oil are likely to restart idled diesel retail operations, and should ultimately become more significant players. Their impact on the sector would not be seen immediately, though, as they would have to play catch-up to restart and establish retail infrastructure.
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Wednesday, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
COALspot.com: The Dry Bulk market closed on the red for yet another week although following Friday sentiment has started to improve on the back of ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost on day, week and month.
The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
Sunday, 19 October 14
LOW DEMAND PUSHES DOWN COAL FREIGHT RATES; VOLATILITY CONTINUES
COALspot.com: This week all the segments softened including BDI except for Panamax index.
The BDI was down by1.70 pct and clsoed at 944 points ...
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Showing 3416 to 3420 news of total 6871 |
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- Minerals Council of Australia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Planning Commission, India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
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