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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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Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
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- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
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