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Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
 The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across northern India, including Delhi. The following day, the lights went out again, but this time over 600 million people in 20 of India’s 28 states were affected, with the outages covering range of 3000 kilometers in the northern and eastern regions. The authorities’ response has ranged from blaming states for overdrawing from the grid, to appointing a committee to inquire into the causes of the blackout. However, these latest outages are merely symptomatic of much larger problems in India’s power sector, which has been short of power for years.
In Salva’s view, the problem does not lie within the generation sector – but with its upstream (coal supply and transportation) and downstream (transmission and distribution) counterparts. Since the generation sector was deregulated in FY03-04 to enable private participation, installed generation capacity has almost doubled, growing by 92GW or 85%, at a CAGR of 10.8%. The vast majority of this new capacity is coal-fired, which added another 18GW of new capacity in FY11-12 and a further 4.2GW in Q1’12.
However, this new power generation capacity is not being fully utilised, with plant load factors for coal declining from 79.2% in H1’11 to 75.8% in H1’12 and 72% most recently in June. Over 4.3TWh of coal-fired generation was lost in June alone due to low coal supply with a further 1.4TWh lost because of transmission constraints and unplanned outages. Given these figures, clearly thermal coal supply remains a problem. While domestic coal production has increased in 2012, it has languished in recent years, growing at around 1% (5Mt) between 2008-11, which pales in comparison against annual coal-fired power capacity growth of over 10%. Even when production is strong, which it has been in early 2012 (by Indian standards), transportation of coal remains highly problematic. Indian Railways has not been able to procure wagons in time to boost availability sufficiently. This has resulted in coal shortages at power plants and growth in coal mine stockpiles. Transport capacity remains severely constrained as capacity addition has languished at the altar of populism. Passenger traffic shares the same infrastructure as freight, causing freight such as coal to be given a lower priority.
The Electricity Act of 2003 freed up the generation sector, but the same reforms haven’t yet percolated to the transmission and distribution sectors, which are suffering from the same bottlenecks that existed prior to 2003. Transmission capacity is not being developed at the same pace as generation capacity, while distribution reforms remain a pipe dream. As domestic coal production has not kept pace with demand, power producers have used much costlier imported coal to generate electricity. However, India’s tariff framework is still lagging behind, so the State Electricity Boards require ever increasing financial support from state owned banks and financial institutions. Tariff reform is an immediate requirement. Only that will facilitate the sector’s much needed investment.
What are the implications if this is not done now?
Indian cities are accustomed to power cuts. However, increasing prosperity has increased electricity demand and, coupled with the weak monsoon this year, has caused power demand to spike. Agricultural states like Uttar Pradesh, Haryana and Punjab have increasingly overdrawn power from the grids to feed the agricultural sector (which ironically is not metered as power is free for farmers) and to meet residential demand. The agricultural sector is still dependent upon the monsoon as the irrigation network is not widespread, and the weak monsoon has resulted in farmers pumping groundwater onto their fields. Generally electricity demand is low during the monsoon months (June-September) as the rains reduce temperatures. However, the rains have been weak and hence residential power demand has remained strong. This has been further exacerbated with the additional demand from the agricultural sector. State power distribution companies have not planned in advance to buy additional electricity and have overdrawn power from the grid without additional generation being supplied. This has destabilised the grid and caused it to fail.
The impact of the electricity shortages have been felt by the public at large, with a few incidents of people protesting on the road. However, it hasn’t erupted into widespread unrest - thankfully.
The implications of not carrying out reforms in the transmission and distribution sector are now apparent. Lack of adequate investment in the transmission sector will hobble the impressive generation capacity that has been developed. Lack of commercial reforms in the power distribution sector will not provide the returns or even cover the basic cost of generation. The power sector is already sick and if reforms are not carried out with the seriousness required, India will suffer further setbacks.
Source: Salva
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Tuesday, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, ...
Tuesday, 14 August 12
UNCERTAIN FUTURE FOR DRY BULK PANAMAX SHIPS - DREWRY / HELLENIC SHIPPING
The dry bulk shipping market is in a poor state, with the Capesize segment the worst of all. Unfortunately, the latest analysis from Drewry Maritime ...
Monday, 13 August 12
5TH VIETNAM PORTS AND LOGISTICS 2012
Press Release - Co-hosted by VINAMARINE, the 5th Vietnam Ports and Logistics2012 will feature dedicated sessions on port and transport infrastructur ...
Monday, 13 August 12
ACTIVE DRY BULK FLEET INCREASES BY 8% SO FAR IN 2012 IN TERMS OF TONNAGE CAPACITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s no wonder that the dry bulk market has been tethering since the start of the year. the overflow of tonnage has been so enormous, that eve ...
Sunday, 12 August 12
COAL FREIGHT RATES FALL FLAT TO SOFT ON OVERSUPPLY, WEAK DEMAND - VISTAAR SINGAPROE
COALspot.com - The BDI continued its fall 10th August.
This week all segments were down including BDI down by 9.15 pct closing at 774 points .The ...
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- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
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