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Thursday, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the government declared ambitious targets for being a Net Zero economy in 50 years and 500 Gw of renewable energy capacity addition.
NITI Aayog, the central government’s think tank, said in a report coal demand will be in the range of 1192-1325 million tonne by 2030, led by usage from the electricity sector. The International Energy Agency (IEA), in its annual coal report said, stronger economic growth and increasing electrification will drive demand growth of 4 per cent per year.
Coal-based utility electricity generation capacity in India is likely “to peak at about 250 GW” by the end of this decade or immediately thereafter, said the NITI report. It added that coal-based utility electricity generation in India will slow down, and is likely to peak a few years later, i.e. later 2040.
IEA said iron and steel production use coal and there are not many technologies to replace the fuel immediately. “India’s growing appetite for coal is set to add 130 million tonnes (Mt) to coal demand between 2021 and 2024. Continued expansion of India’s economy is expected during 2022-2024, with annual average GDP growth of 7.4 per cent, fuelled at least partially by coal. We forecast coal consumption to increase at an average annual rate of 3.9 per cent, to reach 1185 Mt in 2024,” IEA’s Coal 2021 report said.
It said India’s push to domestic coal mining through both Coal India and auction of coal blocks to private companies, coal usage in India will increase as it plateaus in other parts of the world, including China. It also said India is set to overtake China as the world’s largest metallurgical coal importer.
The NITI report said while coal-based thermal power generation will grow in absolute terms for the next decade, its share in the total power generation mix of the country will decline to a 50-55 per cent (from current 72 per cent) in the next 10 years. This, it said would be due to the changing capacity mix with increasing share of renewable energy.
On November 1, at Glasgow global climate summit COP26, Prime Minister Narendra Modi announced India will be a Net Zero economy by 2070 and will have 500 Gw of renewable energy by 2040.
This paper reported had reported, this announcement is unlikely to put pressure on coal.
Senior government officials told Business Standard, Net Zero decision actually provides certainty to investors in coal – both state owned Coal India Limited (CIL) and private captive and commercial coal miners.
“The 1 billion tonne coal production target of CIL will get logged into the economy in this decade. For another 20-30 years the future of coal is secure in India. The mines awarded now have a clear business case to run for their lifetime,” said an official requesting anonymity.
Even IEA noted in its report, the pledges to reach net zero emissions made by many countries, including China and India, should have very strong implications for coal – “but these are not yet visible in our near-term forecast, reflecting the major gap between ambitions and action.”
NITI Aayog cautioned against the target versus achievement of renewable energy in India. “India is unlikely to achieve its target of 100 GW of solar and 60 GW of wind capacity by 2022. Given the current “surplus capacity” in the system, distribution utilities are reluctant to sign fresh power purchase agreements, given their already distressed financial situation. Investments are likely to be constrained following the COVD-19 pandemic. For all these reasons, the development of the renewables sector needs to be tracked carefully.”
“They should also be very cautious of adding new coal capacity beyond 2030 as it risks locking in resources. India must enhance investments in the deployment of clean coal technologies throughout the coal value chain. Government power utilities must show the way by investing in the deployment of advanced clean coal technologies,” it said.
Source: Business Standard
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Tuesday, 19 July 22
DRY BULK MARKET: CAPESIZE MARKET FIRMS THIS WEEK - BALTIC EXCHANGE
Capesize
Firmer sentiment across both basins pushed the Capesize 5TC route average above the $20,000 threshold this week, closing at $24,209. A ...
Tuesday, 19 July 22
WHY SHIPPING MIGHT BE ABOUT TO GET A LITTLE BIT SLOWER - WORLD ECONOMIC FORUM
If shipping is the beating heart of global trade, its pulse is about to get slower.
Faced with uncertainty about which fuels to use in the long ...
Tuesday, 19 July 22
GERMANY'S INCREASED COAL, OIL USE WILL BE TEMPORARY, SCHOLZ SAYS - CNBC
Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war i ...
Tuesday, 19 July 22
INDONESIA REMOVES PALM OIL EXPORT LEVY UNTIL AUG. 31 - REUTERS
Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finan ...
Tuesday, 19 July 22
CHINA'S JUNE DAILY COAL OUTPUT JUMPS ON PEAK SUMMER DEMAND - REUTERS
China’s daily coal output in June rose 6.6 per cent from a month earlier as miners cranked up output ahead of peak summer temperatures, when ...
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- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
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