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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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Thursday, 22 November 18
SHUT OUT OF CHINA, U.S. COAL EXPORTERS FIND FAVOUR IN INDIA, FOR NOW - REUTERS
U.S. coal exporters have effectively lost a promising market in China since the imposition of tariffs as part of the ongoing trade dispute, but so ...
Wednesday, 21 November 18
SHIPPING MARKET INSIGHT - DIMITRIS KOURTESIS
Halfway through the fourth and last quarter of the year, we spot a significant change in freight rates for tankers trading dirty, as well as on the ...
Tuesday, 20 November 18
FREIGHT RATES IN THE CRUDE OIL MARKET HAVE ALREADY PICKED UP OVER THE PAST COUPLE OF WEEKS - YIANNIS VAMVAKAS
Current geopolitical developments between Iran and the US, which have led the latter to re-impose its sanctions, have significantly affected oil pr ...
Tuesday, 20 November 18
GOLDEN ENERGY AND RESOURCES LEADS A$249M BID FOR AUSTRALIA-LISTED STANMORE COAL - THE STRAITS TIMES
Singapore-listed Golden Energy and Resources (GEAR) is leading deals worth up to A$249 million (S$250 million) to acquire Australia-listed Stanmore ...
Monday, 19 November 18
INDONESIA'S LEADING EIGHT COAL MINER'S COAL MINING CONTRACTS ARE EXPECTED TO EXPIRE BETWEEN YEAR 2019 - 2025
The Ministry of Energy and Mineral Resources (ESDM) said, eight Coal Contract of Works (CCoW) will expected to expire between 2019 to 2026, Liputan ...
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- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
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