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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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Tuesday, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
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- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- White Energy Company Limited
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Australian Coal Association
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
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