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Thursday, 02 July 20
PRIVATE COAL MINING MAY SEE WEAK INVESTOR SENTIMENT: ICRA - LIVEMINT
The prospects of commercial coal mining in India may be dimmer than initially expected because of the expected shift in India’s energy mix from fossil fuel-based power to renewable energy. The rollout of this government reform at a time when the economic outlook remains uncertain amid the Covid-19 pandemic may lead to weak investor sentiment, a report by credit ratings agency ICRA said.
The domestic coal demand is estimated to increase at a modest compounded annual growth rate (CAGR) of 2.9% between FY2021 and FY2027, ICRA estimated. This is much lower than the CAGR of 5.2% registered between FY2013 and FY2020. Given Coal India’s ambitious target to reach 1 billion tonne coal production by FY2024, private commercial miners would face stiff competition in gaining a foothold in the domestic market.
“In a market, where an overwhelming majority of the domestic supply is controlled by Coal India and Singareni Collieries, affordability, dependability and consistency in coal quality would remain critical drivers that would determine if the existing coal customers decide to partly shift their sourcing to private commercial coal miners,” Jayanta Roy, Senior Vice-President & Group Head, Corporate Sector Ratings, ICRA, said. “Experienced players, who have the knowhow of efficiently operating a coal mining business, stand a better chance in making a dent in the market share of the existing players. Over the long-term, we believe that coal consumers are likely to benefit from increased competition in the domestic coal mining industry.”
Around 94-95% of Coal India’s overall production comes from opencast mines, having attractive stripping ratios, which have an inherent cost advantage over their peers. Consequently, the operating cost for Coal India’s opencast mines reportedly stood at a competitive ₹833 per tonne in FY2019. Moreover, out of Coal India’s 582 million tonne (mt) of despatches in FY2020, around 89% has been supplied under long-term fuel supply agreements (FSAs) where the realisations remain very competitive. Given this cost competitiveness, as well as the arrangements already available to deliver coal to clients’ plants, threats to any loss in Coal India’s market share in the FSA segment remains low in ICRA’s view; consequently the company would continue to dominate the sector in the foreseeable future. However, the geology of the mines belonging to The Singareni Collieries Company Limited remains less favourable, resulting in their operating costs being more than double that of Coal India. Consequently, vulnerability from increased competition remains much higher for Singareni Collieries, whose notified coal prices have an average premium of 40% – 125% over Coal India’s notified prices for various grades of coal.
In FY2020, India imported 243 mt of coal from the seaborne market which entailed a hefty import bill of approximately US$ 21 billion. Out of this, around 52 mt was coking coal imports, which would be difficult to replace, given its limited domestic reserves. The balance 191 mt of imports was contributed by thermal coal, of which India has abundant reserves.
In this regard, Roy added, “India’s low-grade thermal coal imports stood at an estimated 110 mt in FY2020, and its import substitution with domestic coal remains a potential opportunity for private commercial miners. For the balance 75-80 mt of high-grade thermal coal imports, options to partly substitute such imports by supplying washed coal to the non-regulated sector also remains a potential area of growth for private commercial miners. Apart from import substitution, increasing market presence in the seaborne export market, and faster adoption of coal-gasification technologies may be other potential avenues of growth for private commercial coal miners.”
Source: LiveMint
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Monday, 20 July 20
COAL INDIA LAUNCHES SPECIAL CATEGORY OF E-AUCTION FOR COAL IMPORTERS - BUSINESS STANDARD
Coal India (CIL) on Friday launched a special category of e-auction for importers of coal. This is in line with the government’s declaration ...
Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
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- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Interocean Group of Companies - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
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