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 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
|
|
|
Showing 3471 to 3475 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
|
| |
| |
|
