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Tuesday, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
 Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power sector has fast-tracked the dispatches over the last few weeks. If the low coal stocks at pitheads continues, the supplies could be disrupted, leading to power plant outages (low plant availability, in technical terms).
The looming difficulty has accelerated coal imports in recent months (see chart) but a wide price differential between the domestic and imported coal is still putting a lid on imports.
For comparable thermal grades, the imported coal is at least a third costlier than the locally available fuel, and in some cases, the landed cost of imported varieties are 1.5 times that of local coal.
Since power demand in the first half of this financial year was nearly 8% higher than in the year-ago period, and in October alone, the growth was as high as 11% (growth in recent years used to be sub-5%), any inability of the domestic sector to satiate the coal demand could in the coming months inflate imports and put an added burden on the country’s merchandise-trade and overall current account deficits.
Though the annual (FY19) production target of 610 mt for Coal India set by the government seems a tall order (during April-October, the miner produced 306 mt coal; the October production of 50 mt reflected an acceleration), its production is growing at a respectable rate of 10% annually. Including other producers like SCCIL, various state government entities and captive production, the country’s total output in the first seven months of the current financial year was 377 mt, again a 10% year-on-year growth.
India’s overall coal imports had grown at the fastest annual rate of 29% in FY15, raising concerns about coal becoming another major macro-economic concerns like oil whose large-scale imports are heavy burden on the current account. Coal imports had since slowed — the growth was only 6.7% in FY18 when the imports stood at 141 mt, lower than 145 mt in FY15. (Of course, in terms of value, the imports were Rs 1,38,477 crore in FY18 compared with Rs 1,04,507 crore in FY15).
The current situation of low stocks at pitheads coincides with the low-coal scenario at the power plants, with cumulative stocks of the fuel at the generating stations standing critically at 10.3 mt as on November 5. This is sufficient to run the plants for only six days on an average. Coal India had dispatched 231 mt to the power sector in H1FY19, up about 10% year-on-year.
CIL officials attribute the fall in pithead stocks to higher availability of railway rakes to ferry the fuel, which has boosted deliveries. In the first six months of FY19, CIL loaded 202 rakes at an average for the power sector, registering a growth of 9.6%. The operationalisation of the Tori-Balumath and the Jharsugda-Sardega railway lines — critical for coal transportation — have also contributed to the lowering stocks, the CIL officials say.
Historically, coal stocks at the CIL mines deplete in the April-September period due to monsoons flooding a number of mines and excessive heat-halting excavation activities in some of the mines in the Mahanadi Coalfield areas in Odisha. However, the current fall in stocks is much steeper (at the end of March 2018, the stocks were 55 mt and a year ago, these stood at 76 mt). Clearly, fuel offtake has been more than production levels in the recent months. Experts say the trend of power demand coming down in the winter months might be bucked this fiscal with a number of states like Chhattisgarh, Rajasthan and Madhya Pradesh heading for elections in November-December.
CIL officials said that it would ramp up production to 18-20 lakh tonnes a day from the 16 lakh tonnes/day registered in October, as it aspires to achieve its own FY19 production target of 652 mt.
As FE recently reported, more than 10,500 megawatts (mw) of power generating units were remaining shut across the country citing “coal shortage” in mid-October. Out of this, 2,700 mw and 4,210 mw capacities went under outage in September and October, respectively.
Research agency CARE Ratings has said that improved capacity utilisation in power, cement and steel industries, coupled with inadequate rail-connectivity and rake availability to ferry the fuel might raise coal imports by as much as 17% annually in FY19. The development comes at a time when global steam coal prices have been on a steady rise amid the falling value of the rupee. The average global coal price was about $116.8 per tonne in August. Earlier this month, commodity tracker mjunction said that coal imports in the first six months of FY19 increased by nearly 14% to 119.42 mt.
Source: Financial Express
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Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
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- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
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