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Tuesday, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
 Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power sector has fast-tracked the dispatches over the last few weeks. If the low coal stocks at pitheads continues, the supplies could be disrupted, leading to power plant outages (low plant availability, in technical terms).
The looming difficulty has accelerated coal imports in recent months (see chart) but a wide price differential between the domestic and imported coal is still putting a lid on imports.
For comparable thermal grades, the imported coal is at least a third costlier than the locally available fuel, and in some cases, the landed cost of imported varieties are 1.5 times that of local coal.
Since power demand in the first half of this financial year was nearly 8% higher than in the year-ago period, and in October alone, the growth was as high as 11% (growth in recent years used to be sub-5%), any inability of the domestic sector to satiate the coal demand could in the coming months inflate imports and put an added burden on the country’s merchandise-trade and overall current account deficits.
Though the annual (FY19) production target of 610 mt for Coal India set by the government seems a tall order (during April-October, the miner produced 306 mt coal; the October production of 50 mt reflected an acceleration), its production is growing at a respectable rate of 10% annually. Including other producers like SCCIL, various state government entities and captive production, the country’s total output in the first seven months of the current financial year was 377 mt, again a 10% year-on-year growth.
India’s overall coal imports had grown at the fastest annual rate of 29% in FY15, raising concerns about coal becoming another major macro-economic concerns like oil whose large-scale imports are heavy burden on the current account. Coal imports had since slowed — the growth was only 6.7% in FY18 when the imports stood at 141 mt, lower than 145 mt in FY15. (Of course, in terms of value, the imports were Rs 1,38,477 crore in FY18 compared with Rs 1,04,507 crore in FY15).
The current situation of low stocks at pitheads coincides with the low-coal scenario at the power plants, with cumulative stocks of the fuel at the generating stations standing critically at 10.3 mt as on November 5. This is sufficient to run the plants for only six days on an average. Coal India had dispatched 231 mt to the power sector in H1FY19, up about 10% year-on-year.
CIL officials attribute the fall in pithead stocks to higher availability of railway rakes to ferry the fuel, which has boosted deliveries. In the first six months of FY19, CIL loaded 202 rakes at an average for the power sector, registering a growth of 9.6%. The operationalisation of the Tori-Balumath and the Jharsugda-Sardega railway lines — critical for coal transportation — have also contributed to the lowering stocks, the CIL officials say.
Historically, coal stocks at the CIL mines deplete in the April-September period due to monsoons flooding a number of mines and excessive heat-halting excavation activities in some of the mines in the Mahanadi Coalfield areas in Odisha. However, the current fall in stocks is much steeper (at the end of March 2018, the stocks were 55 mt and a year ago, these stood at 76 mt). Clearly, fuel offtake has been more than production levels in the recent months. Experts say the trend of power demand coming down in the winter months might be bucked this fiscal with a number of states like Chhattisgarh, Rajasthan and Madhya Pradesh heading for elections in November-December.
CIL officials said that it would ramp up production to 18-20 lakh tonnes a day from the 16 lakh tonnes/day registered in October, as it aspires to achieve its own FY19 production target of 652 mt.
As FE recently reported, more than 10,500 megawatts (mw) of power generating units were remaining shut across the country citing “coal shortage” in mid-October. Out of this, 2,700 mw and 4,210 mw capacities went under outage in September and October, respectively.
Research agency CARE Ratings has said that improved capacity utilisation in power, cement and steel industries, coupled with inadequate rail-connectivity and rake availability to ferry the fuel might raise coal imports by as much as 17% annually in FY19. The development comes at a time when global steam coal prices have been on a steady rise amid the falling value of the rupee. The average global coal price was about $116.8 per tonne in August. Earlier this month, commodity tracker mjunction said that coal imports in the first six months of FY19 increased by nearly 14% to 119.42 mt.
Source: Financial Express
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Wednesday, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resemble ...
Tuesday, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
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- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Marubeni Corporation - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
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