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Tuesday, 07 December 21
COAL WOULD REMAIN ENERGY LEADER FOR AT LEAST 15 YEARS - LIVEMINT
Coal India Ltd (CIL) has been in the eye of the storm after fuel stocks at coal-fuelled power plants depleted in October. Fuel stocks since are being replenished.
n an email interview, Pramod Agrawal, chairman of world’s largest coal miner, spoke about scaling down of production by power plants which were reliant on costly imported coal, leading to domestic coal-fuelled power plants to step in. Agrawal, an IAS officer of the Madhya Pradesh cadre, also spoke about a likely increase in prices of the fossil fuel and stated that coal would keep its leadership of the energy landscape for at least a decade-and-a-half despite the focus on clean energy.
What were the problems faced due to state generation companies (gencos), ramping down of generation by imported coal fuelled power projects and inadequate buildup of fuel stocks at power projects, specifically during the summer and monsoon?
Owing to high international coal prices, 14 imported coal-based power plants scaled down their generation to 28.24 billion units (BU) during April-October’21 compared to 44.96 BU in the same period a year earlier, which resulted in a generation fall of 37%. Domestic coal-based power plants had stepped in to meet the gap where CIL had supplied around 20 million tonnes of additional coal. Supply fluctuation during the monsoon is a normal seasonal trend which this year got amplified due to a sudden surge in power generation leading to unprecedented coal demand. In fact, our supplies to the power sector are at an all-time high so far. With improved supplies, 20 mt of coal stock has been built up at power plants so far, the bulk of it from CIL sources. We are targeting to boost the stocks further to adequate levels by the fiscal-end. Outstanding receivables are the only concern with state gencos.
What is the latest coal production and offtake data and trajectory for meeting annual production target of 670 mt for FY22?
As of November-end, our production was nearly 354 mt, logging 5.6% year-on-year growth. Realistically, we may close the fiscal with an output of 640 mt. On the off-take front, our supplies have taken a leap to 421 mt, which is an increase of 64 mt over last year same period, with a growth of 18%. If coal demand pans out favourably, we are aiming at 680 mt despatches by the fiscal year-end. We also plan to supply more than 540 mt of coal to the power sector which would be a record high.
What is the proposed action plan to meet growing demand for coal in the country, especially keeping in view the 1 billion tonne production target by FY24?
Scaling up coal production is imperative. Currently, coal demand is high and is likely to sustain in the future. Our plan to ramp up production includes close monitoring of 35 major projects which account for 70% of our entire production. To boost future production, we are pursuing MDO (mine developer and operator) mode and cleared 13 of 15 such greenfield projects having a combined capacity of 170 mtpa (million tonnes per annum). Global tenders have been floated for 10 projects. For the ongoing fiscal, nine coal mining projects having a total capacity of around 67 mtpa and incremental capacity of 37 mtpa have been green-flagged. This comes on the heels of highest-ever 36 coal mining projects cleared in FY21 which have a total capacity of approximately 333 mtpa. We are also in constant dialogue with state governments for land acquisition to expand our operations. All these efforts would push up our production.
Are we looking at a coal price hike soon? Any indication on how much it would be and other details.
It is likely to happen but to draw a timeline would not be possible. For the last four years, there has been no price increase but most of the input costs including diesel and explosives have increased. Despite this, our prices held steady. We are now reaching a level where to stay commercially viable, price increase is essential; when and how much would be a collective board decision. But the idea is we have to be adequately compensated and whatever the increase should take care of our Ebitda (earnings before interest, taxes, depreciation and amortization). While protecting our bottom line, we will also consider the impact on price of energy in the country because coal price increase has an influence on various commodities. We will take all our stakeholders on board.
Coal is under fire from environmentalists. What would be coal’s standing in the energy mix of the country in future?
Environmental concerns revolving around coal are understandable and justified. We are sensitive to environmental protection in our production and transportation and are reducing CO2 emissions and particulate matter to the extent possible. However, the journey of coal is not going to end anytime soon, and it will continue to retain its energy leadership for at least a decade and half to come. Coal’s percentage in the energy basket may reduce with renewables and cleaner sources gradually filling up more, but in absolute terms coal’s contribution will be higher. Forcing out coal in the absence of alternative energy sources to replace its role is not a viable option. It is certain that at some point of time in future coal has to step down from the high pedestal that it currently occupies in the country’s energy hierarchy. But the big question is when. Till such time, coal is here to stay.
Source: LiveMint
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Thursday, 30 June 22
FINANCIAL GAINS SUPPORT COAL TRANSITION - BALTIC EXCHANGE
Support for the shift away from coal dependency continues to mount, with the International Monetary Fund (IMF) calculating that the move would gene ...
Thursday, 30 June 22
WHY ARE LNG SHIPPING STOCKS RESILIENT? - DREWRY
LNG shipping stocks are proving resilient despite uncertainties about growth in global GDP, high inflation and the ongoing geopolitical crisis caus ...
Thursday, 30 June 22
SPOT AUSTRALIAN THERMAL COAL HAS SURGED, BUT CONTRACT PRICE IS KEY - REUTERS
The spot price of Australian thermal coal is higher than that of coking coal, an unprecedented situation that highlights just how the global market ...
Thursday, 30 June 22
SHANXI PROVINCE RAISES ANNUAL COAL OUTPUT TO 1.3 BILLION TONS TO ENSURE CHINA’S ENERGY SUPPLY - GLOBAL TIMES
North China’s Shanxi Province, a major coal-producing region, recently announced a move to increase its annual coal production output by 107 ...
Thursday, 30 June 22
DIVERGENCE BETWEEN HIGH- AND LOW-GRADE THERMAL COAL PRICES IN APAC TO NARROW - FITCH RATINGS
Prices between high- and low-grade thermal coal in Asia-Pacific (APAC) have diverged since late March 2022, but Fitch Ratings expects the gap to na ...
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- Indian Energy Exchange, India
- White Energy Company Limited
- Trasteel International SA, Italy
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- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
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- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
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- Holcim Trading Pte Ltd - Singapore
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- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
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- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- VISA Power Limited - India
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- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
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- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
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- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
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- Renaissance Capital - South Africa
- Australian Coal Association
- Merrill Lynch Commodities Europe
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- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
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- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
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- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
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- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
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- San Jose City I Power Corp, Philippines
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- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
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- Romanian Commodities Exchange
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- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
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- The State Trading Corporation of India Ltd
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- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
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- Electricity Authority, New Zealand
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- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
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- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
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