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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 $116.8 per tonne in August. Earlier this month, commodity tracker mjunction said that coal imports in the first six months of FY19 increased by nearly 14% to 119.42 mt.
Source: Financial Express
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Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
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