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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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Sunday, 30 December 18
MAJOR LNG BUYERS' UNCONTRACTED DEMAND TO QUADRUPLE BY 2030 - WOOD MACKENZIE
Wood Mackenzie’s latest research reveals that uncontracted demand by the world’s seven largest LNG buyers could quadruple to 80 million ...
Saturday, 29 December 18
DELIVERY OF CARGO WITHOUT PRODUCTION OF THE ORIGINAL BILL OF LADING - TT CLUB
KNOWLEDGE TO ELEVATE
As the bill of lading is a document of title, a person presenting it to the carrier or its agent is ostensibly entitled t ...
Friday, 28 December 18
BIMCO 2020 SULPHUR CLAUSES: "A FAIR ALLOCATION OF RESPONSIBILITIES AND LIABILITIES'? - INCE & CO.
To assist owners and charterers to address the legal issues arising under any time charterparties, which will span the 1 January 2020 implementatio ...
Thursday, 27 December 18
DRY BULKERS SPOT FREIGHT MARKET W/E 21 DEC - ALLIED SHIPBROKING
Capesize
A negative week for the Capesize sector, as activity remained at low levels, especially in the Pacific, with rumors regarding agreed r ...
Thursday, 27 December 18
SHIPPING IS ENTERING A NEW ERA OF EVER CHALLENGING CONDITIONS - ALLIED
As we move closer to the end of the year and we look forward into New Year, we are still finding ourselves looking deep into a market outlook full ...
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- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- PowerSource Philippines DevCo
- Parliament of New Zealand
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
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