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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 $116.8 per tonne in August. Earlier this month, commodity tracker mjunction said that coal imports in the first six months of FY19 increased by nearly 14% to 119.42 mt.
Source: Financial Express
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Sunday, 02 December 18
TRADE WAR LEADING TO HEADWINDS FOR THE FRAGILE DRY BULK RECOVERY - PETER SAND, BIMCO
The first twelve weeks of the 2018/19 marketing year, which started on 1 September 2018, have painted a dire picture for US soya bean exports which ...
Friday, 30 November 18
GOVT MULLS REQUIRING MINERS TO TURN COAL INTO GAS - THE JAKARTA POST
The government is considering requiring all coal miners to turn the raw commodity into dimethylether (DME) as a substitute for liquefied petroleum ...
Friday, 30 November 18
SUPRAMAX: N. CHINA TO INDIA OR SE ASIA SUPRAS ARE GETTING PAID AROUND US$ 6000 - FEARNLEYS
Capesize
Sharp rise in spot activity and income, admittedly from very low levels, for the big ships. West Australia/China and Brazil/Far East b ...
Thursday, 29 November 18
NEW IMSBC CODE REQUIREMENTS AIM TO CONTROL LIQUEFACTION OF COAL CARGOES - GARD
KNOWLEDGE TO ELEVATE
The International Maritime Solid Bulk Cargoes (IMSBC) Code describes coal as a natural, solid, combustible material consi ...
Wednesday, 28 November 18
SHIPPING MARKET INSIGHT - GEORGE LAIOS
Last week I had the privilege to attend the SingularityU Greece Summit, in Athens. It was a privilege because you do not often have the chance to s ...
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- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- The University of Queensland
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
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