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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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Australian Coal Association
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
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