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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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Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Planning Commission, India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
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