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Friday, 12 June 20
COAL INDIA LIMITED SET FOR MARKETING DRIVE TO CREATE DEMAND - FINANCIAL EXPRESS
State-run miner Coal India (CIL), which is primarily focused on supplying coal to the power sector, is now reorienting its marketing to create demand amid concerns over fall in despatches. The company is primarily tapping domestic coal based power plants and non power consumers which import coal.
CIL so long didn’t have to think of demand and meeting the power sector’s requirement was a challenge till recently. Even when the non power sector was starved of coal and had to lift the fuel, paying high premium above notified prices through e-auctions, CIL gave priority to the power sector for supplies. However, with the power sector piling up with 50 million tonne of stocks sufficient for 29 days of consumption, the mining behemoth will now have to focus on marketing and look into the factors that create demand.
A CIL official said the company so long has worked on the supplies side improving facilities to its customers like reduction in reserve prices of coal in auctions and liasoning with the Railways on behalf of the customers but never looked into the mechanism of creating demand. Demand is based on many factors like logistics, freighter movement, fluctuation in international prices, affecting landed cost most importantly the liquidity condition of the consumer. CIL will now have to take into considerations these factors too.
To find the avenues for expanding its supplies, CIL is now focusing on non power sector consumers like sponge iron, cement, fertiliser, captive power plants, and steel, persuading them to replace their imported coal with domestic coal. “Dialogue is on with customers who opted for import substitution in FY20. Until demands picks from the non power sector supplies will be low key,” a CIL official said.
CIL has also developed a portal in which consumers can register the details of their demand for domestic coal towards import substitution and secure allocation of the fuel. CIL has flagged for government’s consideration the case for lower or discounted railway tariff for transportation of quantities of domestic coal booked by consumers which will facilitate import substitution.
Although the company feels the move would result in curtailing forex outgo arising out of coal imports and help CIL expand its supply volumes, CIL continues to be beset with tepid demand for coal with most of the customers shying away from lifting adequate quantities. Power sector, which makes up close to 80% of CIL’s total supplies, is brimming over with nearly 50 million tonne (MT) of coal sufficient for 29 days of consumption ending May 2020. Already many plants have started restricting supplies from CIL further shrinking the despatches of coal companies. For the month of May 2020, power sector at 30.15 MT, lifted only around 75% of coal, from CIL, compared to what it did same month a year ago, resulting in a 10.23 MT slide in supplies. During May 2019, power utilities lifted 40.38 MT of coal.
Meanwhile, the Center has mulled creating a coal exchange in the lines of commodity exchange with a view to open the sector to market forces with the government allowing commercial mining. The coal ministry is likely to begin auctioning of around 50 coal blocks for commercial mining on June 11. The government plans to get ready with the coal exchange with the commercial miners getting ready for production. All the coal produced in the country, including CIL’s will be traded through the exchange online and market forces will determine pricing of coal in a transparent manner.
CIL officials said this form of coal, trading would mean end of the regime of fuel supply agreement (FSA) and coal will be thrown open to the markets. In view of that, CIL, though would continue to remain a lead player, would need to transform itself to a market driven company, for which it is reorienting it marketing to work on creating demand. With the coal sector thrown open to the market, every consumer be it the power or non power sector, will have a level playing field.
Source: Financial Express
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Friday, 29 May 20
DRY BULK SHIPPING: NO QUICK RECOVERY FOR THE DRY BULK MARKET AS COVID-19 DIGS DEEPER
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to wo ...
Thursday, 28 May 20
COVID-19: A FORCE MAJEURE EVENT? - KYPRIANOU
KNOWLEDGE TO ELEVATE
While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the com ...
Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the ...
Thursday, 28 May 20
MARKET INSIGHT - INTERMODAL
Earlier in May, China’s top leaders convened for the annual National People's Congress, following over two months of delays due to the co ...
Wednesday, 27 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.94 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.03 points Monday, up 0.94 percent week on week.
The index, released by China ...
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- Energy Development Corp, Philippines
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- Economic Council, Georgia
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- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
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- Wood Mackenzie - Singapore
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- Planning Commission, India
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- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
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- Electricity Authority, New Zealand
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- Bharathi Cement Corporation - India
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- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
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- SN Aboitiz Power Inc, Philippines
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- Georgia Ports Authority, United States
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- Eastern Coal Council - USA
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- Pipit Mutiara Jaya. PT, Indonesia
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- VISA Power Limited - India
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- Ceylon Electricity Board - Sri Lanka
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- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
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- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
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- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
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- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
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- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
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- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
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- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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