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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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Wednesday, 02 September 20
MARKET INSIGHT - INTERMODAL
The imminent global shift towards eco-friendliness has caused divide among the shipping community because there is no outlined, clear-cut way via w ...
Wednesday, 02 September 20
INDONESIA COAL PRICE REFERENCE DIVES FURTHER IN SEPTEMBER DUE TO SUBDUED DEMAND & GLOBAL OVERSUPPLY
Subdued demand & global oversupply pushed down this month's HBA
COALspot.com: The Indonesia Coal Price Reference ...
Tuesday, 01 September 20
WHY INDIA CAN'T MATCH THE GULF REGION'S RECORD-LOW SOLAR TARIFFS - IEEFA
5-10% annual decline in tariffs estimated for the next decade
A number of countries in the Gulf region have set record-low prices for solar in ...
Tuesday, 01 September 20
COVID-19 PUSHES US LNG INTO A TIGHT SPOT - DREWRY
The pandemic-led weak projections for economic growth will derail US LNG exports in full-year 2020 with the country also losing ground in the long ...
Monday, 31 August 20
DEFECTIVE PASSAGE PLANNING: UNSEAWORTHINESS OR A NAVIGATIONAL DECISION? THE CMA CGM LIBRA QUESTION SAILS ON TO THE UK SUPREME COURT - GARD
KNOWLEDGE TO ELEVATE
The UK Supreme Court has granted leave to appeal the recent decision in Alize 1954 v Allianz Elementar Versicherungs AG ( ...
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- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
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