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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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Wednesday, 01 December 21
MARKET INSIGHT - INTERMODAL
Essentially, anyone involved in the shipping and commodity markets still struggle with commodity supply issues and skyrocketing prices in the conte ...
Tuesday, 30 November 21
CHINA'S TOP ECONOMIC PLANNER SUMMONS COAL PRODUCERS; LONG-TERM PRICING MECHANISM IS ADVISED - GLOBAL TIMES
China’s top economic planner the National Development and Reform Commission (NDRC) said on Monday that they summoned coal producers for a hea ...
Tuesday, 30 November 21
CHINA'S COAL PRICES PLUNGE AFTER GOVT SIGNALS MORE PRICE REGULATION - REUTERS
China’s thermal coal futures dropped 5.6% on Monday after the state economic planner signaled further regulations for prices of the dirty pow ...
Friday, 26 November 21
AS COAL MARKET STABILIZES, CHINA STEPS UP NATURAL GAS SUPPLY TO MEET WINTER DEMAND - GLOBAL TIMES
The daily supply of natural gas in China has exceeded 1 billion cubic meters (bcm) since November began, up 11 percent year-on-year, data from stat ...
Friday, 26 November 21
CHINA FINDS COMPLIANCE PROBLEMS IN COAL PRICE INDEX PROBE - REUTERS
China’s state planner on Wednesday said it had discovered some “noncompliant” behaviour among coal price index providers as it an ...
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- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
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