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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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Thursday, 22 November 18
SHUT OUT OF CHINA, U.S. COAL EXPORTERS FIND FAVOUR IN INDIA, FOR NOW - REUTERS
U.S. coal exporters have effectively lost a promising market in China since the imposition of tariffs as part of the ongoing trade dispute, but so ...
Wednesday, 21 November 18
SHIPPING MARKET INSIGHT - DIMITRIS KOURTESIS
Halfway through the fourth and last quarter of the year, we spot a significant change in freight rates for tankers trading dirty, as well as on the ...
Tuesday, 20 November 18
FREIGHT RATES IN THE CRUDE OIL MARKET HAVE ALREADY PICKED UP OVER THE PAST COUPLE OF WEEKS - YIANNIS VAMVAKAS
Current geopolitical developments between Iran and the US, which have led the latter to re-impose its sanctions, have significantly affected oil pr ...
Tuesday, 20 November 18
GOLDEN ENERGY AND RESOURCES LEADS A$249M BID FOR AUSTRALIA-LISTED STANMORE COAL - THE STRAITS TIMES
Singapore-listed Golden Energy and Resources (GEAR) is leading deals worth up to A$249 million (S$250 million) to acquire Australia-listed Stanmore ...
Monday, 19 November 18
INDONESIA'S LEADING EIGHT COAL MINER'S COAL MINING CONTRACTS ARE EXPECTED TO EXPIRE BETWEEN YEAR 2019 - 2025
The Ministry of Energy and Mineral Resources (ESDM) said, eight Coal Contract of Works (CCoW) will expected to expire between 2019 to 2026, Liputan ...
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- Romanian Commodities Exchange
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- The University of Queensland
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Eastern Energy - Thailand
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
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