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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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Monday, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
Monday, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fit ...
Saturday, 15 September 18
POWERING SUSTAINABLE DEVELOPMENT WITH LOW EMISSION COAL TECHNOLOGIES - WCA
In its 5th Strategic Energy Plan this year (2018), the Japanese Cabinet recognised coal as an important energy resource, necessary for the country& ...
Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
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Showing 1616 to 1620 news of total 6871 |
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- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
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