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Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
 The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across northern India, including Delhi. The following day, the lights went out again, but this time over 600 million people in 20 of India’s 28 states were affected, with the outages covering range of 3000 kilometers in the northern and eastern regions. The authorities’ response has ranged from blaming states for overdrawing from the grid, to appointing a committee to inquire into the causes of the blackout. However, these latest outages are merely symptomatic of much larger problems in India’s power sector, which has been short of power for years.
In Salva’s view, the problem does not lie within the generation sector – but with its upstream (coal supply and transportation) and downstream (transmission and distribution) counterparts. Since the generation sector was deregulated in FY03-04 to enable private participation, installed generation capacity has almost doubled, growing by 92GW or 85%, at a CAGR of 10.8%. The vast majority of this new capacity is coal-fired, which added another 18GW of new capacity in FY11-12 and a further 4.2GW in Q1’12.
However, this new power generation capacity is not being fully utilised, with plant load factors for coal declining from 79.2% in H1’11 to 75.8% in H1’12 and 72% most recently in June. Over 4.3TWh of coal-fired generation was lost in June alone due to low coal supply with a further 1.4TWh lost because of transmission constraints and unplanned outages. Given these figures, clearly thermal coal supply remains a problem. While domestic coal production has increased in 2012, it has languished in recent years, growing at around 1% (5Mt) between 2008-11, which pales in comparison against annual coal-fired power capacity growth of over 10%. Even when production is strong, which it has been in early 2012 (by Indian standards), transportation of coal remains highly problematic. Indian Railways has not been able to procure wagons in time to boost availability sufficiently. This has resulted in coal shortages at power plants and growth in coal mine stockpiles. Transport capacity remains severely constrained as capacity addition has languished at the altar of populism. Passenger traffic shares the same infrastructure as freight, causing freight such as coal to be given a lower priority.
The Electricity Act of 2003 freed up the generation sector, but the same reforms haven’t yet percolated to the transmission and distribution sectors, which are suffering from the same bottlenecks that existed prior to 2003. Transmission capacity is not being developed at the same pace as generation capacity, while distribution reforms remain a pipe dream. As domestic coal production has not kept pace with demand, power producers have used much costlier imported coal to generate electricity. However, India’s tariff framework is still lagging behind, so the State Electricity Boards require ever increasing financial support from state owned banks and financial institutions. Tariff reform is an immediate requirement. Only that will facilitate the sector’s much needed investment.
What are the implications if this is not done now?
Indian cities are accustomed to power cuts. However, increasing prosperity has increased electricity demand and, coupled with the weak monsoon this year, has caused power demand to spike. Agricultural states like Uttar Pradesh, Haryana and Punjab have increasingly overdrawn power from the grids to feed the agricultural sector (which ironically is not metered as power is free for farmers) and to meet residential demand. The agricultural sector is still dependent upon the monsoon as the irrigation network is not widespread, and the weak monsoon has resulted in farmers pumping groundwater onto their fields. Generally electricity demand is low during the monsoon months (June-September) as the rains reduce temperatures. However, the rains have been weak and hence residential power demand has remained strong. This has been further exacerbated with the additional demand from the agricultural sector. State power distribution companies have not planned in advance to buy additional electricity and have overdrawn power from the grid without additional generation being supplied. This has destabilised the grid and caused it to fail.
The impact of the electricity shortages have been felt by the public at large, with a few incidents of people protesting on the road. However, it hasn’t erupted into widespread unrest - thankfully.
The implications of not carrying out reforms in the transmission and distribution sector are now apparent. Lack of adequate investment in the transmission sector will hobble the impressive generation capacity that has been developed. Lack of commercial reforms in the power distribution sector will not provide the returns or even cover the basic cost of generation. The power sector is already sick and if reforms are not carried out with the seriousness required, India will suffer further setbacks.
Source: Salva
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Tuesday, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, ...
Tuesday, 14 August 12
UNCERTAIN FUTURE FOR DRY BULK PANAMAX SHIPS - DREWRY / HELLENIC SHIPPING
The dry bulk shipping market is in a poor state, with the Capesize segment the worst of all. Unfortunately, the latest analysis from Drewry Maritime ...
Monday, 13 August 12
5TH VIETNAM PORTS AND LOGISTICS 2012
Press Release - Co-hosted by VINAMARINE, the 5th Vietnam Ports and Logistics2012 will feature dedicated sessions on port and transport infrastructur ...
Monday, 13 August 12
ACTIVE DRY BULK FLEET INCREASES BY 8% SO FAR IN 2012 IN TERMS OF TONNAGE CAPACITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s no wonder that the dry bulk market has been tethering since the start of the year. the overflow of tonnage has been so enormous, that eve ...
Sunday, 12 August 12
COAL FREIGHT RATES FALL FLAT TO SOFT ON OVERSUPPLY, WEAK DEMAND - VISTAAR SINGAPROE
COALspot.com - The BDI continued its fall 10th August.
This week all segments were down including BDI down by 9.15 pct closing at 774 points .The ...
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- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
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