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Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
 India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise in electricity demand and an increase in short-term prices.
According to a post published on Ind-Ra's website, the stable-to-negative outlook continues to reflect Ind-Ra’s expectation of a continued low plant load factor of 60.0%-62.0% of coal-based thermal power plants over the rest of FY19, because of large capacity additions in the past five years and domestic coal availability challenges. Ind-Ra expects India’s dependence on thermal power generation to remain high in the absence of any substantial improvement in power generation from other sources.
The agency has maintained a Stable Outlook on most of its rated power sector entities for the rest of FY19, as the agency expects the entities to continue to manage fuel and counterparty risks on account of a favourable tariff mechanism, a comfortable liquidity position and support from central and state governments.
Ind-Ra expects the dependence on coal-based power generation to continue despite a likely increase in capacity addition in the renewable segment, as capacity addition is low on an equivalent thermal basis owing to the low plant load factor in the renewable segment.
Given Ind-Ra’s expectation of healthy power demand growth in the rest of FY19 and thermal power capacity contributing to the required growth, coal availability becomes a key determinant for required power demand growth. Considering the historical growth rate of domestic non-coking coal production and offtake, Ind-Ra estimates imported coal requirement to increase to 62.0 million tonnes in FY19 from 56.0 million tonnes in FY18 to meet incremental power generation. Hence, there could be higher imported coal usage in FY19 than that in FY16-FY18, when imported coal usage declined. According to Ind-Ra, in a scenario of lower-than-required growth in domestic coal output, short-term power prices would remain firm and are likely to be determined by the marginal cost of energy production undertaken using imported coal.
Ind-Ra estimates project internal rate of returns to decline to a single-digit level in view of the recent aggressive bidding for wind power projects. Ind-Ra believes a high un-hedged forex exposure from the depreciating Indian rupee further lowers projects’ internal rate of returns. Moreover, access to the banking system may tighten, in case bidding continues to remain aggressive.
Solicitation Disclosures
Ratings are not a recommendation or suggestion, directly or indirectly, to you or any other person, to buy, sell, make or hold any investment, loan or security or to undertake any investment strategy with respect to any investment, loan or security or any issuer. Please also refer Ind-Ra’s Disclaimer
If you believe an article violates your rights or the rights of others, please contact us.
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Saturday, 20 October 18
PANAMAX: THE PACIFIC SAW A LARGE VOLUME OF FIXING, WITH INDONESIA AGAIN THE DRIVING FORCE - THE BALTIC BRIEFING
Capesize
A positive end to last week after a shaky start, with a Coaltrans taking participants out of the market early on and with rates slippi ...
Thursday, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
Capesize
The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
...
Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
The ...
Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
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Showing 1586 to 1590 news of total 6871 |
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- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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