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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, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
Monday, 18 August 14
CFR SOUTH CHINA COAL SWAP PERFORMED WELL THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.45 (+0.66%) day on day and US$ 0.30 (+0.44%)&nbs ...
Saturday, 16 August 14
HIGH DEMAND OF IRON ORE SHIPMENTS PUSHED CAPE INDEX UPWARDS
COALspot.com: This week's freight market was buoyant with Cape and panamax index seeing a big jump pushing the BDI above 1,000 points week on c ...
Friday, 15 August 14
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
13-16 October 2014
Grand Hyatt Jakarta, Indonesia
Web Site
The country’s definitive ...
Thursday, 14 August 14
U.S. STEAM COAL IMPORTS REMAIN DOWN SHARPLY FROM HISTORIC HIGH IN 2007, SAYS EIA
COALspot.com: U.S. steam coal imports at power plants have fallen significantly from their peak level of more than 30 million tons in 2007 to less ...
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- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- The University of Queensland
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Planning Commission, India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
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