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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, 03 September 14
KOREA MIDLAND POWER CO. LTD INVITES BIDS FOR 1 MMT OF BITUMINOUS & SUB-BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: KOMIPO again in the market for 1 million tons of 5700 NAR and 4600 NAR coal for Jan – March 2015. South Korean state-owned util ...
Wednesday, 03 September 14
CFR S.CHINA COAL SWAP FOR JAN 2015 DELIVERY CLOSED AT $ 68.30 PMT; DOWN 2.43% W-O-W
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.95 (-1.39%) day on day and US$ 1.40 (-2.03%) week on wee ...
Tuesday, 02 September 14
BERAU COAL HAS AWARDED A CONTRACT EXTENSION TO BUMA FOR 647 MLN BCM OVERBURDEN REMOVAL
COALspot.com: PT Delta Dunia Makmur Tbk (“DOID”) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama (&l ...
Monday, 01 September 14
GLOBALCOAL WELCOMES TWO NEW MARKET MEMBERS
COALspot.com: globalCOAL® announced today that two Market Members have joined its trading community. Both new Market Members are from the India ...
Sunday, 31 August 14
COAL FREIGHT RATES INTO INDIA FROM INDONESIA FIRM
COALspot.com: The freight market continued to firm this week. BDI up 5.42 percent week ended 29 August and closed at 1147 points while the Ca ...
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- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Australian Coal Association
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- White Energy Company Limited
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- The University of Queensland
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
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