We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
 COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative financial impact on a number of Indian power and steel companies, says Fitch Ratings.
The decision is broadly credit negative for these sectors, but should have no impact on the ratings of any Fitch-rated steel or power sector corporates.
According to Fitch, the decision to cancel 214 of 218 coal licences follows a ruling in August in which the SCI declared the licence allocation process as arbitrary and illegal. The cancelled licences include 46 producing or near-production blocks, and are owned largely by power and steel sector companies. The producing mines will be allowed to continue operations until March 2015, at which point they will be handed back to state firm, Coal India Limited, until they are sold as part of a new auction process.
Companies with cancelled licences will not receive any compensation on account of development expenditure incurred to date, meaning these will have to be written off. They can bid for the same coal blocks when they come back on the market, while it will be an open bidding process. Furthermore, they will now have to pay for externally sourced coal, resulting in higher operating costs. The SCI's decision also levies a fine of INR295/tonne on coal produced to date from the mines affected, which could amount to INR73bn (USD1.2bn), Fitch says in its latest research report.
The negative financial impact will vary significantly depending on the company. Current credit profiles are likely to remain intact for Fitch-rated steel and power companies. The ruling has no immediate direct impact on Tata Steel Limited (BB+/Stable) and Steel Authority of India Limited (SAIL, BBB-/Stable). All but one of their operational coal mines were allocated before 1993, which are exempt from the decision. In addition, SAIL's one operational mine which was allocated after 1993 was one of the four licences upheld by the SCI as valid. The cancellation of non-operational coal licenses will not hurt credit profiles, as these have not been factored into Fitch's long-term financial projections for these companies.
Power Company NTPC Limited (BBB-/Stable) could be more vulnerable to the decision, though Fitch maintains that the broader impact will still be relatively small. Pakhri Barwadih, an NTPC mine nearing production, has been exempt from the cancellation. The status of the other nine of NTPC's 10 coal blocks is uncertain, as it is not very clear if they are also exempt - owing to the fact that NTPC is a state-owned entity. The company had expected that its captive mines would be able to serve 4.3% of its coal requirements in FY15 - rising further to 15% by FY17.
The potential long-term effects of the decision on the wider power and steel sectors will depend largely on how quickly the government proceeds with re-auctioning the licences. This could lead to more efficient development of these coal blocks in the long term should the new process go quickly. Uncertainty regarding the original allocation process had previously contributed in part to the underdevelopment and utilisation of these blocks.
However, it is important to highlight that a new and transparent auction process is just one factor needed to boost coal production in India. Other key challenges remain, including tough environmental clearances and regulatory approvals.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
|
|
|
Showing 51 to 55 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
|
| |
| |
|
