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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, 29 June 20
ULTRAMAX: A 58,000 FIXING DELIVERY SINGAPORE TRIP, VIA EAST COAST INDIA, REDELIVERY CHINA IN THE LOW $12,000S - BALTIC BRIEFING
Capesize
As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a ba ...
Saturday, 27 June 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 26 June 20
WHAT TODAY'S BAILOUTS CAN DO FOR TOMORROW'S ECONOMIES - WORLD ECONOMIC FORUM
The COVID-19 crisis provides an opportunity for governments to build fairer, more sustainable and more resilient economies.
Governments a ...
Thursday, 25 June 20
ALL YOU WANT TO KNOW ABOUT COAL MINE AUCTIONS - THE HINDU BUSINESS LINE
Last week, Prime Minister Narendra Modi threw open the auction of 41 coal blocks for commercial mining. The decision, which was part of the announc ...
Wednesday, 24 June 20
MARKET INSIGHT - INTERMODAL
The World Bank estimates that the global economy will fall by 5.2% this year, underlining that the Covid-19 pandemic has had rapid and massive cons ...
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- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
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- Madhucon Powers Ltd - India
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- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
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- Baramulti Group, Indonesia
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- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
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- Sojitz Corporation - Japan
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- Interocean Group of Companies - India
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- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
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- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
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- GN Power Mariveles Coal Plant, Philippines
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- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
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- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Thai Mozambique Logistica
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- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
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- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
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- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
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- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Planning Commission, India
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- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
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- Trasteel International SA, Italy
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- Independent Power Producers Association of India
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- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
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