Fresh Doubts on Viability of Galilee Basin Becoming a Supplier of Coal to India

first_img FacebookTwitterLinkedInEmailPrint分享From World Coal:New analysis from the University of Queensland (UQ) has thrown into doubt the long-term viability of delivering Galilee Basin coal to India. According to UG Global Change Initiative Researcher, Lynette Molyneaux, the economic profile of many of India’s energy-poor states is unsuited to supporting coal-fired power.The research calculates the costs of supplying Galilee Basin coal to new coal-fired power plants in one such state – Bihar in northeast India on the border with Nepal. The costs included a percentage of the amount required to buy and develop the Abbot Point coal terminal, as well as projected costs to ship the coal to the Indian port of Paradip and then rail it from Paradip to Bihar. This was then compared to the costs involved in deploying a decentralised micro-grid in the same region.“We estimate it would cost about US$94/t to deliver Galilee Basin coal to Bihar,” said Molyneaux. “Overall, we found that it would cost about US$29 billion over 20 yr to supply even a modest amount of electricity to each household in Bihar.”“The elephant in the room for proponents of coal-fired power to relieve energy poverty for the rural, agrarian poor is that remote rural locations have little or no industry to underwrite the costs of electrification,” Molyneaux concluded. “Coal-fired power stations are not designed to run for just a few hours a night, which is what the 15.8 million households in Bihar need to light their homes and charge their mobile homes.”As an alternative model, Molyneaux points to the solar panels installed on people’s homes in Bangladesh, which have reduced the use of noxious fuels and provided employment for up to 100 000 people. The research – ‘Rural Electrification in India: Galilee Basin Coal versus Decentralised Renewable Energy Micro-Grids’ – is published in the April issue of Renewable Energy.The UQ research is by no means the only one to questions the Galilee Basin developments. More harmfully, the financial community has also raised questions over the commercial viability of projects in the Galilee Basin –which include Adani Mining’s Carmichael project and GVK Hancock’s Alpha and Kevin’s Corner projects.In August, Australia’s Commonwealth Bank resigned as the financial advisor to the Carmichael project as it was “finding it increasingly difficult to justify its involvement in a project which was both harmful to the environment and commercially infeasible,” according to a December 2015 note from BMI Research.This was a significant blow, according to BMI Research, which described the situation as “grim”. Without the support of an Australian bank, which foreign banks rely on to do the necessary due diligence and for on-the-ground knowledge and expertise, Adani is unlikely to be able to secure sufficient for the US$16.5 billion project: a briefing from the IEEFA’s Tim Buckley noted last September that the project was “increasingly unbankable” with fifteen of the world’s largest financial houses having either ceased or ruled out involvement.“The Carmichael project is far from financial close and the first commercial coal remains and remote prospect,” concluded Buckley. Similar problems face GVK Hancock, which is also yet to secure funding for its Galilee Basin projects.“The prospects for further coal production in Australia remains grim due to the environment of persistently low coal prices and the increased reliance of India and China on their domestic thermal coal production to fuel their thermal power plants,” concluded BMI Research, which expects the country’s production to reach 498 million t by 2019 – only slightly higher than the 481 million t forecast in 2016.Research continues to question financial viability of Galilee Basin coal projects Fresh Doubts on Viability of Galilee Basin Becoming a Supplier of Coal to Indialast_img read more

CSSC, CSIC Deny Merger Reports

first_imgChina State Shipbuilding Corporation (CSSC) and China Shipbuilding Industry Corporation (CSIC) have denied reports of a combination saying that they are not planning a merger.The companies released separate notices denying the merger talks following reports that China’s government was looking to combine the shipbuilders in an effort to create an industrial mammoth.On March 30, Bloomberg cited undisclosed sources as saying that China’s state council gave its preliminary approval to merge CSSC and CSIC.The shipbuilders informed that their parent companies have not received any written documents from the government about a merger or held talks on the matter.After the merger reports, Bloomberg informed that the shares of China CSSC Holdings jumped 10 percent in Shanghai, while CSSC Offshore & Marine Engineering Group climbed 6.7 percent.CSSC and CSIC have a combined revenue of at least CNY 508 billion (USD 80.8 billion).World Maritime News Stafflast_img read more

Cricket News No one can come near England currently in the ODI format: James Anderson

first_img For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps. New Delhi: The England cricket team has made a remarkable recovery in their limited-overs fortunes after crashing out in the league stages of the 2015 World Cup in Australia and New Zealand. Under Eoin Morgan’s leadership, ‘new’ England has dominated the limited-overs set-up in the last couple of seasons. Since 2017, Morgan’s side has won their last nine series, excluding the one-off ODI loss against Scotland, including 3-1 recently in Sri Lanka. The recently-concluded series saw England winning all three formats against Sri Lanka, including a 3-0 whitewash in the Tests. James Anderson, England’s leading wicket-taker in tests, believes England will have to play incredibly badly if they do not win the 2019 World Cup which will be played at home this time.Speaking in an episode of Tailenders Podcast, Anderson said Virat Kohli’s Indian cricket team comes closest when it comes to matching England’s consistency. “But I think in our conditions I don’t think anyone is going to come near so I think we’ve really got to screw up if we don’t win the World Cup. There’s no-one really anywhere near [England] in the one-day form, probably India,” Anderson said.Read More | MS Dhoni is the hero of the country, learnt a lot from him: PantEngland is building solid momentum ahead of the 2019 World Cup and has been in dominant form in 2018. They hammered Australia 4-1 and secured a tense 3-2 win over New Zealand. In their first series at home, England achieved history by whitewashing Australia 5-0 for the first time ever and they topped it off with a brilliant 2-1 series win against a formidable Indian side.Read More | Virat Kohli engineered Anil Kumble’s exit, according to leaked emailsIn 2015, they were facing a must-win game against Bangladesh in their last league game in Adelaide but they lost by 15 runs to crash out of the tournament. The loss saw the exit of coach Peter Moores. In ICC events, England have only won the 2010 World T20 under the leadership of Paul Collingwood while in the World Cups, they have lost in the final three times in 1979, 1987 and 1992. They also lost in the final of the ICC Champions Trophy in 2013 while in 2017, they were knocked out by Pakistan in the semi-finals. Both the tournaments were held in England. last_img read more