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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, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
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- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Australian Coal Association
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
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