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.
|
|
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 ...
|
|
|
Showing 91 to 95 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Australian Coal Association
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
|
| |
| |
|
