Post on 02-Jan-2022
PB J. M. Baxi & Co. COAL Update | Aug 2021 Aug 2021 | J. M. Baxi & Co. COAL Update 1
Monthly Coal Update
AUG21
2 J. M. Baxi & Co. COAL Update | Aug 2021 Aug 2021 | J. M. Baxi & Co. COAL Update
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Port Anlaysis
COAL & COKE TRAFFIC AT INDIAN PORTS (QTY IN Metric Tonnes)
MAJOR COAL & COKE IMPORTERS (QTY IN Metric Tonnes)
MAJOR COAL & COKE ORIGIN COUNTRYWISE IMPORTS (QTY IN Metric Tonnes )
Market Overview And Trends
Highlights
Contents
Disclaimer: The information contained in this market update is drawn from wide range of newspapers, business and trade magazines,
government, company and industry association websites. While all possible care is taken to verify the correctness and authenticity of
information contained in this compilation, no claim to independent authorship of articles is implied or intended. Readers are expected
to make their own independent evaluation and verification of information for their use. While all information contained in this report
are believed to be correct, the editors of this compilation or J. M. Baxi & Co. do not guarantee the quotes or other data and the same
is provided only in good faith.
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4 J. M. Baxi & Co. COAL Update | Aug 2021 Aug 2021 | J. M. Baxi & Co. COAL Update
CO
AL
TR
AFF
IC A
T IN
DIA
N P
OR
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PORT NAME Apr- June - 21 Apr- June - 20 VARIANCE
ANGRE 0 41000 -41000
BEDI 139000 574000 -435000
BHAVNAGAR 614021 242906 371115
DAHEJ 1791973 596212 1195761
DHAMRA 4661714 2982610 1679104
DHARAMTAR 749834 308262 441572
ENNORE 5599019 3141040 2457979
GANGAVARAM 5316243 2957045 2359198
GOPALPUR 361306 0 361306
HALDIA 3334389 2439465 894924.5
HAZIRA 3191016 820749 2370267
JAIGAD 1905980 1749493 156487
KAKINADA 486059 427651 58408
KANDLA 2942232 2531176 411056
KARAIKAL 1315039 1695057 -380018
KOLKATA 2213.62 0 2213.62
KRISHNAPATNAM 8530557 6445818 2084740
MAGDALLA 878499 723442.9 155056.1
MANGALORE 1492639 946818.9 545820.1
MORMUGAO 2305526 2286102 19424
MUMBAI 650641 431522 219119
MUNDRA 7206385 5366301 1840084
NAVLAKHI 2516824 802058 1714766
OKHA 383348 276686 106662
PARADIP 10469924 8294308 2175616
PIPAVAV 471609 322747.7 148861.3
PORBANDAR 74306 66600 7706
SALAYA 566047 823549 -257502
TUNA 2126925 1128913 998011.9
TUTICORIN 3227992 3250497 -22505
VISAKHAPATNAM 3878857 2921577 957280
Grand Total 77190118 54701749 22488369
COAL & COKE TRAFFIC AT INDIAN PORTS (QTY IN METRIC TONNES)
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IMPORTERS CARGO QTY
ADANI COAL TRDG. CORPN. COAL 75000
COKING COAL 80000
ADANI ENTERPRISES LTD. COAL 1138450
NON COKING COAL 415583
ADANI POWER LTD. STEAMING COAL 902488
AGARWAL COAL CORPN. COAL 150231
STEAMING COAL 64800
INDUSTRIAL COAL 30000
AGARWAL FUEL CORPN. STEAMING COAL 34540
ANAND CARBONS STEAMING COAL 15220
ARCELOR MITTAL NIPPON STEEL INDIA LTD. COAL 243660
MET COKE 130000
ARJAS STEEL. COAL 30000
AUROBINDO PHARMA LTD. STEAMING COAL 55000
BENGAL ENERGY CO. LTD. COAL 51521
COKING COAL 159000
BHUSAN POWER & STEEL LTD. COKING COAL 106944
PCI COAL 76744
STEAMING COAL 164976
CARBON RESOURCES LTD. COAL 47223
CHEMPLAST SANMAR LTD. COAL 73700
COASTAL GUJARAT POWER LTD. STEAMING COAL 372891
COREMAN TRADING FZ LLC COAL 75715
ELECTRO CASTING LTD. COKING COAL 49800
PCI COAL 16900
STEAMING COAL 17002
ESL STEEL CO, ANTHRACITE COAL 7002
GANDHAR OIL REFINERY INDIA LTD. COAL 53000
MAJOR COAL & COKE IMPORTERS (QTY IN METRIC TONNES) - JULY 2021
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GLOBAL COAL AND MINING PVT. LTD. INDUSTRIAL COAL 57780
GLOBAL COKE PVT. LTD. R.P. COKE 57600
GOA CARBON R.P. COKE 4356
GRASIM INDUSTRIES LTD. COAL 71499
GUJARAT HEAVY CHEMICAL LTD. COAL 10681
HINDALCO INDUSTRIES LTD. PET COKE 22660
HINDUSTAN ZINC LTD. COAL 60000
INDIA CEMENTS LTD. INDUSTRIAL COAL 38180
INDIA COKE AND POWER PVT. LTD. NUT COKE 27078
INDIA COKE PVT. LTD. COKING COAL 46634
JAI BALAJI INDUSTRIES LTD COKING COAL 31500
JAYASWAL COKING COAL 54256
JINDAL STEEL AND POWER LTD. COKING COAL 944098
PCI COAL 143589
STEAMING COAL 164642
JINDAL STEEL WORKS LTD. COAL 51500
STEAMING COAL 647889
KALYANI STEEL LTD. MET COKE 22000
KIRLOSKAR BROTHERS COAL 15315
KIRLOSKAR FARREOUS INDUS. LTD. COAL 18000
KREMER GENERAL TRADING LLC INDUSTRIAL COAL 82000
MOHIT MINERALS PVT. LTD. COAL 41271
STEAMING COAL 13019
NAYARA ENERGY LTD. (ESSAR OIL LTD.) COAL 161757
NIRMA LTD. COAL 124233
NYDEL RESOURCES PVT. LTD. STEAMING COAL 52000
OPG POWER GENERATION PVT. LTD. STEAMING COAL 146052
ORISSA METALIKS PVT. LTD. COAL 163166
COKING COAL 143779
MET COKE 22000
STEAMING COAL 73332
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PETRO CARBON CO. LTD. R.P. COKE 10624
RAIN CALCINING LTD. PET COKE 119148
RASHTRIYA ISPAT NIGAM LTD. COKING COAL 549381
NON COKING COAL 38250
RAWMET CO. STEAMING COAL 25784
RAWMET COMMODDITIES PVT. LTD. COKING COAL 117368
RELIANCE INDUS. LTD. COAL 75000
RSPL LTD. COAL 45000
SANDUR POWER CO. PVT. LTD. COAL 24000
SANVIRA INDUS. LTD., PET COKE 25000
SEMBCORP ENERGY INDIA LTD. COAL 211067
STEAMING COAL 223185
SHREE CEMENT LTD. COAL 121000
SMIT SINGAPORE PTE LTD. STEAMING COAL 60000
SRI KALAHASTI PIPES COAL 45662
STEEL AUTHORITY OF INDIA LTD. COKING COAL 1064782
PCI COAL 62271
SUNFLAG IRON AND STEEL CO. LTD. COAL 14272
SURYADED ALLOYS AND POWER PVT. LTD. STEAMING COAL 82500
SWISS SINGAPORE INDIA PVT. LTD. STEAMING COAL 100621
TAMILNADU NEWSPRINT AND PAPERS LTD. INDUSTRIAL COAL 63800
TATA METALLICKS LTD. ANTHRACITE COAL 6800
COKING COAL 27500
TATA POWER CO. LTD. COAL 100500
TATA STEEL BSL LTD. COKING COAL 89500
STEAM NON COKING 164310
TATA STEEL LTD. ANTHRACITE COAL 20000
COAL 161894
COKING COAL 552790
NUT COKE 27431
PCI COAL 163420
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TORRENT POWER LTD. COAL 78750
TRAFIGURA INDIA PVT. LTD. COAL 79022
TURNREST RESOURCES PVT. LTD. COAL 72830
ULTRATECH CEMENT LTD. COAL 72278
NON COKING COAL 287850
PET COKE 55000
V.R. PETROCHEM INDUSTRIAL COAL 30250
VEDANTA ALUMINIUM LTD. CALCINED PET COKE 15631
COAL 60500
VEDANTA LTD. SEZ UNIT CALCINED PET COKE 28150
COKING COAL 161273
VISA MINMATE LTD. COKING COAL 48930
STEAMING COAL 77381
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COUNTRIES CARGO QTY
ARGENTINA PET COKE 25000
AUSTRALIA COAL 868710
COKING COAL 3116606
INDUSTRIAL COAL 82000
PCI COAL 477724
STEAMING COAL 749491
THERMAL COAL 34406
CANADA COKING COAL 73215
PET COKE 43997
CHINA CALCINED PET COKE 28150
COAL 323699
COKING COAL 56868
INDUSTRIAL COAL 38180
PET COKE 22660
COLOMBIA NUT COKE 54509
EGYPT ANTHRACITE COAL 20000
GEORGIA PET COKE 20600
INDONESIA COAL 1293652
COKING COAL 85230
INDUSTRIAL COAL 181830
R.P. COKE 16624
STEAMING COAL 1839975
JAPAN COAL 75310
MET COKE 44000
KUWAIT PET COKE 27493
R.P. COKE 18000
MAJOR COAL & COKE ORIGIN COUNTRYWISE IMPORTS (QTY IN METRIC TONNES) - JULY 2021
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MALAYSIA R.P. COKE 8600
MOZAMBIQUE COAL 121000
COKING COAL 121369
NON COKING COAL 203250
OMAN R.P. COKE 25000
PHILIPPINES STEAMING COAL 55000
POLAND MET COKE 130000
RUSSIA ANTHRACITE COAL 13802
COAL 117904
COKING COAL 183779
PCI COAL 65000
STEAMING COAL 152557
SAUDI ARABIA PET COKE 55000
SOUTH AFRICA COAL 594704
NON COKING COAL 415583
STEAM NON COKING COAL 164310
STEAMING COAL 529342
U.A.E. CALCINED PET COKE 15631
UNITED STATES COAL 101367.91
COKING COAL 67553
NON COKING COAL 122850
PET COKE 27058
STEAMING COAL 176955
VIETNAM COAL 60500
VIRGINIA COKING COAL 30000
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HIGHLIGHTS
Coal India’s sustained volume performance trigger hopes of better prospects
02
India, Russia to cooperate on coking coal
03
Decommissioning coal power plants older than 25 yrs can save Rs 37,000 crore
01
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Punjab’s Talwandi Sabo plant to get high-grade coal from CIL
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China’s coking coal imports rebound in June
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Decommissioning coal power plants older than 25 years on priority could result in total savings of Rs 37,750 crore, a study by Council on Energy, Environment and Water (CEEW) said. Besides, an another study by CEEW suggested that power distribution utilities or discoms in India could save up to Rs 9,000 crore (USD 1.23billion) each year by prioritising coal power despatch based on efficiency rather than the prevailing system which prioritises based on variable costs. According to a study released by CEEW on Monday, this move can provide much needed respite to public discoms, which last reported a loss of Rs 61,360 crore (USD 8.4 billion) in FY’19. The findings are based on the performance of 194 GW of Indian coal assets (out of a total capacity of nearly 205 GW) during the 30 months preceding the COVID-19 pandemic. Further, the study found that prioritising efficiency-based despatch during this time could have improved coal fleet efficiency by 1.9 per cent, resulting in annual coal savings of 42 million tonnes (MT) and a commensurate reduction in greenhouse gas emissions. The CEEW study also recommends considering 30 GW of India’s coal-based (power generation) capacity for accelerated decommissioning. The proposed plants overlap with those identified for retirement in the National Electricity Plan (NEP), 2018 the NEP list. Factoring in planned renewables and coal capacity, relegating these newer plants would not adversely affect supply at a system level. In fact, it stated that relegating these inefficient plants would additionally result in a one-time saving of Rs 10,000 crore (USD 1.37 billion) on
account of avoided pollution control retrofits. Further, the study advocates for a unified electricity market that treats the whole country as a single dispatch region. Its findings reinforce the Central Electricity Regulatory Commission’s (CERC) proposal to move away from bilateral scheduling of generation and focus on shifting to market-based economic dispatch (MBED). Decommissioning identified assets will usher in new investments in a more balanced generation system that does not have the sword of surplus hanging over it. A second independent study released today by the CEEW Centre for Energy Finance (CEF) separately examined 130 plants representing 95 GW of India’s coal-based capacity. It found that decommissioning coal assets older than 25 years (35 GW of total capacity) on priority could result in annual savings of Rs 7,550 crore (USD 1.03 billion) over the next 5 years. These savings would be generated through avoided annual capacity or fixed-charge payouts, primarily towards operation and maintenance costs. Further, the savings would add up to a total of Rs 37,750 crore (USD 5.2 billion) over the plants remaining life. On the other hand, the decommissioning of these assets would cost Rs 21,500 crore (USD 2.9 billion) in payouts to debt and equity holders and an additional Rs 11,700 crore (USD 1.6 billion) in compensatory payouts to the workforce. This suggests that decommissioning will pay for itself over a five to six-year period, it added. The CEEW-CEF study does not endorse large-scale decommissioning, it found that retiring 95 GW of capacity could cost between Rs 2.3 lakh crore and 3.5 lakh
Decommissioning coal power plants older than 25 yrs can save Rs 37,000 crore01
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According to a study released by CEEW on Monday, this move can provide much needed respite to public discoms, which last reported a loss of Rs 61,360 crore (USD 8.4 billion) in FY’19
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crore (USD 32 to 48 billion) to pay off debt and equity holders. Payoffs to the workforce costs could add another Rs 57,490 crore (USD 7.8 billion). The study also highlighted that freeing up capital through decommissioning will require innovative financial mechanisms. Once unlocked, these resources could be made available for India’s transition to renewables.
The CEEW study ‘Coal Power’s Trilemma: Variable Cost, Efficiency and Financial Solvency’ can be accessed here and the CEEW-CEF study ‘Mapping Costs for Early Coal Decommissioning in India’ can be accessed here. The CEEW is one of Asia’s leading not-for-profit policy research institutions.
Coal India’s sustained volume performance trigger hopes of better prospects02For Coal India Ltd, better volumes in June trigger hopes of improved prospects going ahead. Provisional figures reported by the company for June indicated a 2% year-on-year improvement in production and 23% improvement in offtake. For the June quarter, the company’s production volumes grew 2.4% and offtake improved 32.7%. Though the higher offtake comes on a low base of last year, there is optimism that the recovery in power demand and economic activities may help the company improve its performance going forward. “The company’s Q1FY22 volume at 160.4mt (million tonne) is the highest ever for the first quarter and is enough to meet our FY22 estimated offtake of 614mt,” said analysts at Edelweiss Securities Ltd. Besides, “pick up in power sector volume-up 38% YoY-in 2Months FY22, higher e-auction premium and reducing receivables are likely to aid cash accretion”, they added. The company supplies a larger portion of its produce under the fuel supply agreement (FSA) to the power sector. Besides, higher demand from the power sector helps improve the
company’s e-auction realisations too. Analysts are of the view that production continues to be rationalised to reduce pithead inventory. On the positive side, inventory at 60 mt fell 38% compared to March 2021, as per analyst’s data. Rising international coal prices are also likely to support domestic demand moving forward, curbing cheap imports. Import prices for Indonesian-origin thermal coal, primarily consumed in the power sector, continued to increase 9% month on month up to end-June 2021, India Ratings and Research said in a note. This is being led by production and supply disruptions due to heavy rainfall, relaxed Chinese import quota for June 2021 and re-stocking requirements ahead of the monsoon season. South Africa-origin thermal coal prices, primarily used in sponge iron manufacturing in the steel sector, also increased by 9-11% sequentially at the end of June 2021. This is also due to continued supply disruptions in the transportation services to the Richards Bay Coal Terminal in South Africa amid stricter lockdowns post rising infections, limited cargo availability, limited stocks on Indian
Though higher offtake comes
on a low base of last year, there is optimism that the recovery in power demand and economic
activities may help the
company improve its
performance going forward
Source: Economic Times
18 J. M. Baxi & Co. COAL Update | Aug 2021 Aug 2021 | J. M. Baxi & Co. COAL Update 19
Source: Livemint
Source: ArgusMedia
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India’s crude steel output rose to 8.52mn t in May, up by 3pc from April and by 36pc from May 2020.
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India, Russia to cooperate on coking coal
China’s coking coal imports rebound in June
India and Russia have agreed to a cooperation on coking coal, a move that will “benefit the entire steel sector by reducing their input cost”, the Indian government said on 14 July. “The activities involved in the cooperation are aimed at diversifying the source of coking coal,” the Indian government said but did not provide further specifics on the nature of the cooperation. India’s coking coal imports stood at 25.05mn t in January-May, up by 36pc on the year, with domestic steel production recovering from the effects of Covid-19 last year.
China imported 4.13mn t of coking coal in June, down by 34pc from a year earlier but up by 21pc from May, according to Chinese customs data. January-June imports fell by 42pc on the year to 22.28mn t. China has banned coal imports from Australia since October, and there has been no
ports and a sustained high Chinese demand. All this may help curb cheap imports and boost Coal India’s volumes and realisations moving forward. The Street thereby will be watchful on the same and also on
Import volumes retreated in May on high fob Australia metallurgical coal prices and sporadic lockdowns in India from the second Covid-19 wave that hit the country towards the end of March. The Argus premium low-volatile hard coking coal index stood at $210.35/t on 15 July, compared with $109.80/t on 16 July 2020. India imported 76,000t of coking coal from Russia in May, up by 125pc on the year. January-May imports from Russia stood at 468,000t, up by 10pc on the year.
Australian import since December. US imports rose by nearly threefold to 938,000t in June on the year, 4pc lower than the record 974,700t in April. Canadian imports in June more than doubled to 888,179t from a year earlier, below the record 1.2mn t in March. Major Chinese traders
sustained volume performance during the monsoon season. The stock is up 18% from its April lows, and sustained volume performance, as well as an uptick in realisations, holds the key for earnings improvement.
03
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Punjab’s Talwandi Sabo plant to get high-grade coal from CIL
scrambled to take positions on non-Australian premium coals on supply shortages in China as Mongolian and domestic supplies remained tight. The Argus premium low-volatile hard coking coal price delivered on a cfr China basis hit a fresh four-year high of $305/t on 30 June, up by 11pc from a month earlier. The Argus premium low-volatile hard coking coal price on a fob Australia basis rose by 25pc to $189/t over the same period. Russian imports almost doubled to a six-
The 1,980 mega-watt (MW) Talwandi Sabo power plant is expecting high-quality low-ash coal supply from Coal India (CIL) in the coming weeks. The power plant, owned by Vedanta, had attributed restrictions on coal import imposed by the Centre as one of the major reasons for the frequent breakdown of its units, as it increased the dependence on domestic coal which has high ash content. Under fuel supply agreement with CIL, the generating station has been lifting coal from Mahanadi Coalfields (MCL) since FY15. “The plant has been allocated higher grades of coal from Eastern Coalfields (ECL) under import substitution,” CIL told FE. The fuel from MCL are of lower grades with calorific value between 3,400 – 4,000 kilo calorie per kilogram (kcal/kg), while coal from ECL mines mostly have higher calorific value between 6,100 – 6,700 kcal/kg. After all the
month high of 1.16mn t in June from a year earlier. Major Russian producers took advantage of stronger cfr China prices and prioritised spot volumes into China. Mongolian arrivals increased by 6pc to 846,000t in June from May, but struggled to exceed 1mn t for a third month. This came as the resurgence of Covid cases in some South Gobi districts compelled stricter border checks from late June, limiting the daily crossing of coal trucks.
three units of the plant — which is the largest source of power in Punjab — broke down, the state government had to impose restrictions of its industrial consumers, permitting them to draw only 50% of power capacity allocated to them from July 8. However, with one of the 660 MW units coming back online, and the recent rains lowering electricity demand, the restrictions have been lifted. The Talwandi Sabo power plant had imported 894 thousand tonne of high quality coal for blending with domestic fuel in FY20, but has not imported any coal since the start of FY21. “As a part of Atmanirbhar Bharat, Central government asked not to import coal and assured of low ash import substitute coal from coal mines in India,” a spokesperson of Vedanta’s Talwandi Sabo Power said. Though the government had asked thermal power plants to reduce coal
05
Source: ArgusMedia
China’s coking coal imports rebounded in June on accelerated seaborne trade as trading firms bought cargoes on tighter domestic supply
The fuel from MCL are of lower grades with calorific value between 3,400 – 4,000 kilo calorie per kilogram (kcal/kg), while coal from ECL mines mostly have higher calorific value between 6,100 – 6,700 kcal/kg.
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imports, a sector expert requesting anonymity pointed out that “there is no ban per se on coal imports, and plants are free to source the fuel from outside if need arises”. The Talwandi Sabo plant is not coal strapped and
as on July 11, had 28 days of stock of the fuel. However, it was the quality of the fuel and not the quantity which the company had problems with.
Source: Financial Express
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