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Friday, 12 June 20
COAL INDIA LIMITED SET FOR MARKETING DRIVE TO CREATE DEMAND - FINANCIAL EXPRESS
State-run miner Coal India (CIL), which is primarily focused on supplying coal to the power sector, is now reorienting its marketing to create demand amid concerns over fall in despatches. The company is primarily tapping domestic coal based power plants and non power consumers which import coal.
CIL so long didn’t have to think of demand and meeting the power sector’s requirement was a challenge till recently. Even when the non power sector was starved of coal and had to lift the fuel, paying high premium above notified prices through e-auctions, CIL gave priority to the power sector for supplies. However, with the power sector piling up with 50 million tonne of stocks sufficient for 29 days of consumption, the mining behemoth will now have to focus on marketing and look into the factors that create demand.
A CIL official said the company so long has worked on the supplies side improving facilities to its customers like reduction in reserve prices of coal in auctions and liasoning with the Railways on behalf of the customers but never looked into the mechanism of creating demand. Demand is based on many factors like logistics, freighter movement, fluctuation in international prices, affecting landed cost most importantly the liquidity condition of the consumer. CIL will now have to take into considerations these factors too.
To find the avenues for expanding its supplies, CIL is now focusing on non power sector consumers like sponge iron, cement, fertiliser, captive power plants, and steel, persuading them to replace their imported coal with domestic coal. “Dialogue is on with customers who opted for import substitution in FY20. Until demands picks from the non power sector supplies will be low key,” a CIL official said.
CIL has also developed a portal in which consumers can register the details of their demand for domestic coal towards import substitution and secure allocation of the fuel. CIL has flagged for government’s consideration the case for lower or discounted railway tariff for transportation of quantities of domestic coal booked by consumers which will facilitate import substitution.
Although the company feels the move would result in curtailing forex outgo arising out of coal imports and help CIL expand its supply volumes, CIL continues to be beset with tepid demand for coal with most of the customers shying away from lifting adequate quantities. Power sector, which makes up close to 80% of CIL’s total supplies, is brimming over with nearly 50 million tonne (MT) of coal sufficient for 29 days of consumption ending May 2020. Already many plants have started restricting supplies from CIL further shrinking the despatches of coal companies. For the month of May 2020, power sector at 30.15 MT, lifted only around 75% of coal, from CIL, compared to what it did same month a year ago, resulting in a 10.23 MT slide in supplies. During May 2019, power utilities lifted 40.38 MT of coal.
Meanwhile, the Center has mulled creating a coal exchange in the lines of commodity exchange with a view to open the sector to market forces with the government allowing commercial mining. The coal ministry is likely to begin auctioning of around 50 coal blocks for commercial mining on June 11. The government plans to get ready with the coal exchange with the commercial miners getting ready for production. All the coal produced in the country, including CIL’s will be traded through the exchange online and market forces will determine pricing of coal in a transparent manner.
CIL officials said this form of coal, trading would mean end of the regime of fuel supply agreement (FSA) and coal will be thrown open to the markets. In view of that, CIL, though would continue to remain a lead player, would need to transform itself to a market driven company, for which it is reorienting it marketing to work on creating demand. With the coal sector thrown open to the market, every consumer be it the power or non power sector, will have a level playing field.
Source: Financial Express
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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Chamber of Mines of South Africa
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- Global Business Power Corporation, Philippines
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- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
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- Wood Mackenzie - Singapore
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- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
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- Kumho Petrochemical, South Korea
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- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
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- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- The University of Queensland
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- Energy Link Ltd, New Zealand
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- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
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- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
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- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
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- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
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- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Ministry of Finance - Indonesia
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- Bulk Trading Sa - Switzerland
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- Therma Luzon, Inc, Philippines
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- White Energy Company Limited
- New Zealand Coal & Carbon
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- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
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- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
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- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
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- Mercuria Energy - Indonesia
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