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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, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- The University of Queensland
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
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