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