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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, 20 March 18
TRAFIGURA GROUP PTE LTD SIGNS RECORD US$5.725 BILLION EUROPEAN MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITIES AND JPY72.64 BILLION DENOMINATED THREE YEAR TERM LOAN
Press Release: Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, ...
Monday, 19 March 18
PANAMAX: DESPITE FEWER REPORTED PERIOD TRADES THIS WEEK, RATE LEVELS HAVE REMAINED SOLID - BALTIC BRIEFING
Capesize
There were finally reports of increased Brazil activity, but still largely unconfirmed. Vale reportedly took six ships Thursday for 5 Ap ...
Friday, 16 March 18
WEEKLY US COAL PRODUCTION DROPS 1.9 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.8 million short tons ...
Friday, 16 March 18
INDONESIA COAL PRICE CAP POSES LIMITED RISKS TO PRODUCERS : FITCH
Indonesia’s cap on the benchmark price of coal sold to the domestic electricity sector is unlikely to have a significant impact on the credit ...
Thursday, 15 March 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE PAYING IN THE LOW $13K TO S. CHINA AND HIGH $13K TO NORTH IN CHINA
Supramax
More activity from USG , front hauls to Far East have settled around $25000, and to Cont around $20000. Stable gain again in Black Sea w ...
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Showing 1766 to 1770 news of total 6871 |
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- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
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