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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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- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
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