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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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Friday, 10 July 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 10 July 20
GLOBAL SHIPPING EARNINGS FORECAST CUT AS SUPPLY SET TO OUTSTRIP DEMAND - MOODY'S
EBITDA forecast worsens, keeping outlook negative. We now expect the aggregate EBITDA of rated shipping companies to fall by around 16%-18% in 2020 ...
Friday, 10 July 20
SLOW RECOVERY IN TANKER RATES TO WEIGH ON BUANA LINTAS LAUTAN - FITCH RATINGS
Fitch Ratings believes that international tanker rates are likely improve after their sharp fall since May 2020, albeit at a slow pace. The weaknes ...
Wednesday, 08 July 20
MARKET INSIGHT - INTERMODAL
During the previous month, the dry bulk market witnessed an impressive increase in the BDI index that has reached 1800 points from 500 with a clear ...
Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
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- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
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- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
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- Central Java Power - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
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- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
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- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
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- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
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- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- PTC India Limited - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
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- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
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- Carbofer General Trading SA - India
- Wilmar Investment Holdings
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