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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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Tuesday, 14 December 21
COAL LOCK-IN IN SOUTHEAST ASIA PRESENTS A CHALLENGE FOR THE ASIAN DEVELOPMENT BANK'S COAL RETIREMENT PLAN - IEEFA
In August, the Asian Development Bank (ADB) announced an ambitious plan to buy high emissions coal-fired power plants in Southeast Asia and retire ...
Saturday, 11 December 21
BUNKER BUYERS LOSE UP TO $5/MT FOR NOT COVERING ENOUGH SUPPLIERS - INTEGR8 FUELS
With the Brent price recently touching the $80 mark and before the Omicron variant concerns pushed it lower, bunker prices reached levels not seen ...
Tuesday, 07 December 21
SUPERCYCLE DEMAND: ARE WE THERE YET? - WOOD MACKENZIE
Taking young children on a long journey is fraught with challenges, not least the inevitable question a few minutes after leaving: are we there yet ...
Tuesday, 07 December 21
GLOBAL SHIPPING OUTLOOK TURNS STABLE FROM POSITIVE ON THE BACK OF PEAKING EARNINGS DURING 2021 - MOODY'S
The outlook for the global shipping industry is changed to stable from positive for the next 12 to 18 months due to demand slightly outstripping su ...
Tuesday, 07 December 21
COAL FIRMS SEE SHARE PRICES SURGE MONDAY, AFTER GOVERNMENT READJUSTS CONTRACT PRICES - GLOBAL TIMES
Share prices of China’s coal enterprises jumped on Monday on the A-share market following a nationwide adjustment to annual thermal coal pric ...
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- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- VISA Power Limited - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
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