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Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 million metric tons of steaming coal in the year starting April 1, its biggest import so far.
“So far we’ve been doing fixed price contracts for coal where we’d buy at one price for the whole year,” Subrat Ratho, the utility’s managing director, said in a telephone interview. “From this tender onward, we will be buying at prices linked to global coal prices.”
Indian state-run generators, especially those located along the coasts, are expected to import more coal this year on directions from the Ministry of Power as it seeks to cut electricity shortages of as high as 13 percent. India’s thermal coal imports surged last year to about 60 million tons from about 30 million tons in 2008, Macquarie Group said this month.
The steam coal tender may feed the Mumbai-based company’s power plants in Nasik, Bhusawal, Khaparkheda, Parli and Chandrapur, according to a tender notice sent to traders this week. The bids are due on April 13. There will be two parts to the bid, one to evaluate the selling company’s capability and the other for the price.
Mahagenco, as the company is known, plans to import 3.35 million tons of power plant coal in the year starting April 1, 40 percent more than 2.4 million tons in the year ending March 31, Ratho said.
“We would like to import as little as we can because overseas coal is six-times more expensive than Indian coal,” Ratho said. “But it appears the Ministry of Power has made an assessment of how much coal the domestic companies will be able to supply to various states and have given us this target.”
Power-station coal prices at Newcastle, an Asian benchmark, rose 1.2 percent last week, according to the globalCOAL NEWCIndex. Prices gained $1.12 to $95.04 a ton in the week ended March 19.
State-owned Mahagenco operates plants with a total installed capacity of 9,996 megawatts of hydroelectric, thermal and hydro plants, according to the Web site.
Source: Bloomberg ( By Archana Chaudhary, Dinakar Sethuraman)
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Thursday, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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- Goldman Sachs - Singapore
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- Billiton Holdings Pty Ltd - Australia
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- Eastern Coal Council - USA
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- Electricity Authority, New Zealand
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- The State Trading Corporation of India Ltd
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- Indian Energy Exchange, India
- India Bulls Power Limited - India
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- IEA Clean Coal Centre - UK
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- The Treasury - Australian Government
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