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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, 18 December 18
COAL OUTLOOK BULLISH DESPITE WEAK CHINESE IMPORT DATA - HEREN, ICIS
Coal prices may appreciate over the remainder of 2018 even despite recent data showing falling imports from the world’s largest producer and ...
Tuesday, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
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- Indian Oil Corporation Limited
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- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- New Zealand Coal & Carbon
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- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
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- Karbindo Abesyapradhi - Indoneisa
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- Parliament of New Zealand
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- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
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- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
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- McConnell Dowell - Australia
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- Formosa Plastics Group - Taiwan
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- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
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- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
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- White Energy Company Limited
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- Australian Coal Association
- Semirara Mining Corp, Philippines
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- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
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- Xindia Steels Limited - India
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- Commonwealth Bank - Australia
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- Kalimantan Lumbung Energi - Indonesia
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- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Central Electricity Authority - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
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- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
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- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Videocon Industries ltd - India
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- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
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- Rio Tinto Coal - Australia
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- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
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- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
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- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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