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Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!


COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.  According to industry players in India, Indian ports are become mini coal stockpiles now days.

"Coal stock piles at various ports have reached record levels and are estimated to surpass the 11Mt mark" paper reports says.  India is facing an acute fuel shortage, but Indian power producers are refusing to buy imported coal or not willing to pay high price for coal.

"Yes, currently, in all Indian ports more than 10 million mt of imported coal  is piled up. The reason for this is a lack of demand for imported coal. One may get wondered why there is a lack of demand when there is a huge fuel and power shortage in India," an international senior coal trader said.

The alarming situation of cargo piled up "COALspot" enquired with various sections of end user, trading, logistics companies and compile the reasons of the serious situation.

The lack of demand is due to variety of reasons viz., ever increase in costs: the depreciation of the Indian rupee, the recent drop in international coal prices, utilities not paying on time, increase in logistical costs, each state invoking section 11 of electricity act preventing the private developers to sell it to other deficient states, lack of evacuation facilities are the main reasons to pile the imported coal at port instead of power plant stock yard, another end-user explain in detail.

From the government, there are numerous new levies like the additional counter veiling duty of 5%, railways increasing the developments charges by 3%; busy season surcharge by 5% and increasing the chargeable weight to carrying capacity plus 10MMT(increase in dead freight) and imposing of clean energy CESS of Rs.50 pmt, are also contributors of this situation, said another  trader. Due to above the multiple reasons the lifting of stocks have adversely affected and stocks piled up.

The earlier PPA’s entered by  all utilities have become unviable due to the above increase in the inputs. Hence, many of the private operators have chosen to shut down the operations as the sale proceeds are not meeting the cost of production, then, what is the solution? Three-word answer, “Revise Power Tariff,” a power producer commented.

Now, only state runs NTPC and other utilities only able to take imported coal as they average it out with major portion of low cost domestic coal.

Indian coal importers are not forgot to blame Indonesian regulations on coal bench mark price (HBA) as reason for the coal price increases. They feel or believe that,  one of the major reasons behind the coal  price increase is HBA regulation.  " Due to  HBA regulation in Indonesia, the prices are ruling very high and there are no signs of easing out the situation," a trader said.

Recently, NPTC has issued a tender for 4 million tons of Imported coal, and KPCL is looking for 50 million tons imported coal for 10-year supplies. According to market information, KPCL is planning to lock coal supplies @ 5 million tons per annum starting from 2015 for 10 years.

Energy and mineral resources ministry of Indonesia is planning to ban the export of low grade coal by 2014 and is also planning to issue a moratorium on the issuance of coal mining licenses.  The moratorium is expected to issue any time soon to regulate all the mines, including coal mines in Indonesia. Once the moratorium is issued then, there are possibilities  in a reduction of coal production, which may be resulting in coal price increases in the future.

China bought nearly 12.58 million tons of coal from Indonesia last month but India has imported only  3.96 million tons, which is only around 30 percent of Chinese's imports.

“As of now, the Indian coal industry at a cross roads looking towards governmental  intervention and reforms. Ministry of power has taken the current scenario very seriously and working towards the solutions. It may take some more time to get the situation settled. We need to wait and watch," according to a coal veteran in Chennai, India.



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