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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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Tuesday, 28 August 18
SUPRAMAX: A COAL TRIP VIA INDONESIA PAID $13,500 ON A 56,000DWT TO WC INDIA - BALTIC BRIEFING
Capesize
The Singapore holiday mid-week disrupted trading and unsettled the market, with owners losing some resilience. The market took on a la ...
Tuesday, 28 August 18
SHIPPING MARKET UPDATE - GEORGE LAZARIDIS
As we edge close to the start of the Autumn Season, a period within the year that is usually characterized as the pivot point from the final quarte ...
Friday, 24 August 18
KOREAN RESTRICTIONS ON COAL SULPHUR IMPACTING HUNTER EXPORTS - THE HERALD
WARNINGS that Korean restrictions on sulphur levels in coal could hurt the Hunter industry appear to have been accurate, according to a report in t ...
Thursday, 23 August 18
RUSSIA'S MECHEL PRODUCED 9.69 MMT OF RUN-OF-MINE COAL IN 1H'2018
Mechel PAO, one of the leading Russian mining and metals companies, announces 1H2018 operational results.
Mechel PAO’s Chief E ...
Thursday, 23 August 18
SUPRAMAX: SOME FRESH COAL CARGOES APPEARED IN SE ASIA, GIVING A BIT PRESSURE ON RATES FOR END AUGUST SHIPMENTS - FEARNLEYS
Capesize
Slightly softer but generally very healthy for the big ships, with limited supply of early tonnage and positive Brazilian ore export v ...
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Showing 1636 to 1640 news of total 6871 |
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- The Treasury - Australian Government
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- The University of Queensland
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
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