Tata Steel bought 75,000 tonnes of Russian coal in May; company pledged to cut business ties with Russia in April; Tata Steel says coal import deal struck before April decision
India's coal import is likely to decline by 11.4 per cent to 186 million tonnes (MT) in the current financial year, even as the state-owned firm has issued tenders to source the fuel from overseas.
The firm placed 6 tenders & received technical bids from 4 players - Ahmedabad-based Adi Tradelink, Chennai-based Chettinad Logistics, and Delhi-based Mohit Minerals Ltd along with Adani Enterprises
GENCOS who either don't place their indents with CIL by 3.6.2022 or haven't initiated their tender processes of coal imports, will be allocated only 70% of domestic coal, said govt
Officials are rushing to make more coal available for utilities as shortages in July-September quarter are expected to be 15% wider than intitially estimated due to expectations of higher power demand
All India Power Engineers Federation has urged the central government to withdraw its direction to states' gencos to import coal amid the shortage of dry fuel, crippling electricity generation
India is facing its worst power crisis in over six years, and officials have been scrambling to arrange supply for power plants whose pre-summer inventories are at over nine year lows
The move can put pressure on the global prices of coal as the utilities rush to avoid a repeat of the electricity crisis in April
Several states are reeling under power shortages with the situation being further affected by extra-ordinary heatwave setting in quite early this year
The move by India, the world's second largest coal importer, could lead to a further increase in global prices, which are already trading near record highs
European and Asian coal importers are expected to join the scramble for alternative sources of the fuel as a European Union ban on Russian coal imports looms, analysts and company officials said
Russia accounted for 11% of Japan's total coal imports in 2021, according to the government data
India's top electricity producer NTPC Ltd's coal imports this financial year will be highest in 8 years despite near-record prices, as it looks to address domestic shortage, 2 senior officials said
It is more dependent on Russian oil, however. And while Poland produces a lot of its own coal, it also relies on imports
The steelmaker used to buy 10-15 per cent of its coal requirements from Russia for use in pulverised coal injection, Tata Steel Managing Director said
Russia could start offering more competitive prices to Chinese and Indian buyers as European and other customers spurn Russia because of sanctions, traders said
The price of coal in the global market touched a record high of $400 per tonne last week, due to the Russia-Ukraine war
Unreliable domestic dispatches prompt customers to either pay more for imports or stop operations
India's coal import registered a decline of 2.7 per cent in August this year amid the power plants grappling with fuel shortages
For the first time in decades, supply was lower than consumption for four straight years till 2020