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Tuesday, 25 August 20
INDIA'S IMPORTS FALL AS LOCKDOWNS IMPACT THE POWER AND INDUSTRIAL SECTORS - REPORT
India is the world’s second largest thermal coal consumer and importer, importing an estimated 211 million tonnes of thermal coal in 2019. The Indian government ordered a lockdown in late March, which was subsequently extended until the end of June, although only for key containment zones. India’s imports grew slightly year-on-year in the March quarter, but the lockdown saw imports fall in April as buyers deferred shipments from South Africa, Indonesia and Australia scheduled for the coming month, said Office of the Chief Economist’ of Australia in its Resources and Energy Quarterly June 2020 report in early July 2020.
The fall in India’s imports was the result of a sharp contraction in demand coupled with resilient domestic output. As India went into a COVID-related lockdown in March, power demand plunged as did demand for thermal coal in electricity generation. The lockdown also affected industrial thermal coal demand, especially in the sponge iron and cement production sectors. India’s sponge iron sector uses an estimated 25-30 million tonnes of imported thermal coal each year, largely from South Africa.
The report further noted, India’s domestic coal output initially withstood the impacts of COVID-19. Production from state-owned Coal India which accounts for about 80 per cent of India’s coal output reached a monthly record in March, as the miner sought to reach its production target for Indian fiscal year (April to March) 2019-20. Coal stocks at mines, industrial facilities, ports and power plants climbed to record highs in April. With excess supply mounting, the Indian government urged state-owned generation companies to use domestic coal ahead of imports. India’s Power Ministry issued a directive for power plants to cut their use of imported coal. India’s thermal coal imports are forecast to decline sharply by over 40 million tonnes to 167 million tonnes in 2020, due to the demand-side impacts of COVID-19.
According to Resources and Energy Quarterly June 2020 report, record high inventories will take some time to run down and will weigh on India’s thermal coal imports in the short term, and India’s domestic coal production has been resilient to the disruptive effects of the virus. Domestic mining operations have been allowed to continue throughout the lockdown and coal producers have been directed to proceed in accordance with their annual production targets. Stated-owned Coal India has a production target of 710 million tonnes in Indian fiscal year (April to March) 2020–21. India’s thermal coal imports are expected to recover gradually over the next two years to reach 185 million tonnes in 2022, as the country’s electricity demand picks up and industrial activity resumes. However, the bounce back is expected to be constrained by government targets and policy. In February 2020, India’s Minister for Coal and Mines announced India would aim to stop importing thermal coal from Indian fiscal year 2023-24 (instead relying on domestic production). While this has been a long-term goal for India and there are considerable barriers to its achievement, the announcement signals a renewed intent to reduce thermal coal imports.
The Indian government’s strategy to increase domestic production has several elements. The first is to boost production by state-owned companies, particularly Coal India. Coal India has a production target of 1 billion tonnes by Indian fiscal year 2023-24, , said Resources and Energy Quarterly June 2020 report of Office of the Chief Economist’ of Australia.
The second strategy is to increase production by the private sector. The Indian government has introduced a number of reforms to encourage private investment, including opening up the country’s coal sector to foreign direct investment and changing the rules governing coal mine auctions. While India will likely fall short of its production targets, government policy is nevertheless expected to propel Indian coal production higher over the next few years.
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Monday, 24 August 20
A COMBINATION OF DEVELOPMENTS DROVE THE FALLOFF COAL PRICES - CHIEF ECONOMIST’ OFFICE, AUSTRALIA
China, rising domestic production combined with subdued power demand;
India, a lockdown coupled with government directives that fav ...
Monday, 24 August 20
AUSTRALIA'S THERMAL COAL EXPORTS ARE FORECAST TO DROP FROM AN ESTIMATED $20 BILLION IN 2019-20 TO $16 BILLION IN 2020-21: REPORT
Thermal coal spot prices have fallen sharply as the impact of COVID-19 drives a contraction in seaborne trade for only the second time this century ...
Saturday, 22 August 20
REPORT SEES INDIA’S RELIANCE ON THERMAL POWER DROPPING TO 50% IN 2021, 43% IN 2026 - ET ENERGY | IEEFA
India’s dependence on thermal power will reduce to 50 per cent by 2021-22 and 43 per cent by 2026-27 on the back of renewable energy (RE) cap ...
Friday, 21 August 20
323 MILLION ELECTRIC VEHICLES WILL BE ON THE ROADS BY 2040 - WOOD MACKENZIE
Electric vehicle (EV) sales are expected to reach 45 million units per year by 2040, with a total global EV stock of 323 million, according to new ...
Friday, 21 August 20
BHP COMMITS TO SELLING ITS THERMAL COALMINES WITHIN TWO YEARS - THE GUARDIAN
Move follows pressure from investors but company stops short of full exit from coalmining
BHP has announced it plans to sell off its ...
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- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
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