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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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Monday, 29 October 18
SUPRAMAX: THE ASIAN AREA SAW FALLING RATES, WITH A 61,000DWT FIXING DELIVERY KOHSICHANG TRIP VIA INDONESIA, REDELIVERY INDIA, AT $10,500 - BALTIC BRIEFING
Capesize
A market of two halves for most of the week with rates in the Atlantic firming and easing in the East for most of the week, but then, ...
Friday, 26 October 18
SHIP OPERATING COSTS EXPECTED TO RISE IN 2018 AND 2019 - MOORE STEPHENS
Total vessel operating costs in the shipping industry are expected to rise by 2.7% in 2018 and by 3.1% in 2019, according to our latest survey.
...
Friday, 26 October 18
SEVERAL CONTRACTIONS IN GLOBAL STEEL PRODUCTION - JEFFREY LANDSBERG
World Steel Association data released today shows that global crude steel production totaled approximately 151.7 million tons in September. T ...
Thursday, 25 October 18
WHAT DOES THE "IMO 2020" REGULATION REALLY SAY? A QUICK GUIDE - BIMCO
KNOWLEDGE TO ELEVATE
The shipping industry has all eyes firmly fixed on the topic, but what exactly do the “IMO 2020” global sulph ...
Wednesday, 24 October 18
MARKET INSIGHT - NASSOS SOULAKIS
Looking at 2018 SnP activity, it is evident that Greek, Chinese and North European (German and Norwegian) owners are the top buying nationalities, ...
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- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- White Energy Company Limited
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
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