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 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
|
| |
| |
|
