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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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Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
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Showing 1411 to 1415 news of total 6846 |
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- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- White Energy Company Limited
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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