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Tuesday, 25 August 20
INDIA'S IMPORTS FALL AS LOCKDOWNS IMPACT THE POWER AND INDUSTRIAL SECTORS - REPORT
India is the world’s second largest thermal coal consumer and importer, importing an estimated 211 million tonnes of thermal coal in 2019. The Indian government ordered a lockdown in late March, which was subsequently extended until the end of June, although only for key containment zones. India’s imports grew slightly year-on-year in the March quarter, but the lockdown saw imports fall in April as buyers deferred shipments from South Africa, Indonesia and Australia scheduled for the coming month, said Office of the Chief Economist’ of Australia in its Resources and Energy Quarterly June 2020 report in early July 2020.
The fall in India’s imports was the result of a sharp contraction in demand coupled with resilient domestic output. As India went into a COVID-related lockdown in March, power demand plunged as did demand for thermal coal in electricity generation. The lockdown also affected industrial thermal coal demand, especially in the sponge iron and cement production sectors. India’s sponge iron sector uses an estimated 25-30 million tonnes of imported thermal coal each year, largely from South Africa.
The report further noted, India’s domestic coal output initially withstood the impacts of COVID-19. Production from state-owned Coal India which accounts for about 80 per cent of India’s coal output reached a monthly record in March, as the miner sought to reach its production target for Indian fiscal year (April to March) 2019-20. Coal stocks at mines, industrial facilities, ports and power plants climbed to record highs in April. With excess supply mounting, the Indian government urged state-owned generation companies to use domestic coal ahead of imports. India’s Power Ministry issued a directive for power plants to cut their use of imported coal. India’s thermal coal imports are forecast to decline sharply by over 40 million tonnes to 167 million tonnes in 2020, due to the demand-side impacts of COVID-19.
According to Resources and Energy Quarterly June 2020 report, record high inventories will take some time to run down and will weigh on India’s thermal coal imports in the short term, and India’s domestic coal production has been resilient to the disruptive effects of the virus. Domestic mining operations have been allowed to continue throughout the lockdown and coal producers have been directed to proceed in accordance with their annual production targets. Stated-owned Coal India has a production target of 710 million tonnes in Indian fiscal year (April to March) 2020–21. India’s thermal coal imports are expected to recover gradually over the next two years to reach 185 million tonnes in 2022, as the country’s electricity demand picks up and industrial activity resumes. However, the bounce back is expected to be constrained by government targets and policy. In February 2020, India’s Minister for Coal and Mines announced India would aim to stop importing thermal coal from Indian fiscal year 2023-24 (instead relying on domestic production). While this has been a long-term goal for India and there are considerable barriers to its achievement, the announcement signals a renewed intent to reduce thermal coal imports.
The Indian government’s strategy to increase domestic production has several elements. The first is to boost production by state-owned companies, particularly Coal India. Coal India has a production target of 1 billion tonnes by Indian fiscal year 2023-24, , said Resources and Energy Quarterly June 2020 report of Office of the Chief Economist’ of Australia.
The second strategy is to increase production by the private sector. The Indian government has introduced a number of reforms to encourage private investment, including opening up the country’s coal sector to foreign direct investment and changing the rules governing coal mine auctions. While India will likely fall short of its production targets, government policy is nevertheless expected to propel Indian coal production higher over the next few years.
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Tuesday, 27 October 20
PLN STILL REFUSING TO ADAPT, A MOVE WHICH WILL HURT INVESTORS, CONSUMERS, AND THE GOVERNMENT PURSE - IEEFA
Utility’s latest planning report locks PLN into the past
PLN would be better served restructuring its business to address the current en ...
Monday, 26 October 20
'LONG ASCENT' TO RECOVERY OF GLOBAL GROWTH - BALTIC EXCHANGE
The global economy has so far avoided a “financial catastrophe” but growth projections from the International Monetary Fund’s lat ...
Friday, 23 October 20
SHIPPING LOANS AND COLLATERAL DAMAGE - VICTOR ONYEGBADO, AKABOGU & ASSOCIATES
KNOWLEDGE TO ELEVATE
Shipping finance transactions are characterised by peculiar risk factors principally on account of the shipping asset&rsq ...
Friday, 23 October 20
WHAT WILL THE 2020 ELECTIONS MEAN FOR US ENERGY? - WOOD MACKENZIE
The 2020 elections present American voters with a choice between two radically different visions for the future of energy. President Donald Trump r ...
Wednesday, 21 October 20
BRAZIL EXPORTED 238.7 MLN TONNES OF IRON ORE IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
Brazil’s iron ore exports have been gradually but steadily recovering following a disastrous winter period of 2019/2020. In the first 9 month ...
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- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Australian Coal Association
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
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