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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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Monday, 19 November 18
SUPRAMAX: THE BSI CONTINUED TO FALL LAST WEEK, ESPECIALLY THE ASIAN ROUTES - BALTIC BRIEFING
Capesize
After a cut throat couple of weeks, the market finally appeared to have found a floor and rates ticked up. Those analysts that predict ...
Sunday, 18 November 18
COAL STOCKS IN A THIRD OF NTPC PLANTS CLOSE TO NIL - FINANCIAL EXPRESS
Coal supply shortage continues to haunt NTPC, the country’s largest power generator, with latest government data showing 31% of the company&r ...
Thursday, 15 November 18
OIL MARKET REPORT: HEEDING THE WARNINGS - IEA
In last month’s Report, we noted that since the middle of the year oil supply had increased sharply, with gains in the Middle East, Russia an ...
Wednesday, 14 November 18
BIMCO ADOPTS 2020 BUNKER CLAUSES
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
...
Wednesday, 14 November 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The shipping industry is going through an interesting period across all markets. Since the end of last year, the Dry Baltic Index has been showing ...
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- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- PTC India Limited - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
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