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Monday, 30 December 13
INDONESIAN COAL TO BE PART OF INDEX DETERMINING POWER TARIFFS - BUSINESS STANDARD
In a significant move, power sector regulator CERC has decided to provide 50 per cent weightage for Indonesian coal in the benchmark index that is used to determine escalation rates for electricity generated using imported dry fuel.
The move would help in having a benchmark in deciding the escalation rates for electricity generated by power plants that are fired by Indonesian coal.
It also assumes significance amid deadlock between various power generators and procurers over increasing the electricity tariff due to rise in imported coal prices.
The Central Electricity Regulatory Commission (CERC) has decided to include Indonesian coal, besides South African and Australian dry fuel, in the composite index for imported coal for payment purposes.
Currently for payment purposes, the index takes into account only Australian and South African coal.
The Commission said the decision to revise the index has been taken after considering the composition of steam coal imports as well as the importance and acceptability of indices in international contracts.
"The weights of different coal in the composite index shall include 25 per cent Australian coal, 25 per cent South African coal, and 50 per cent Indonesian coal," the Commission said in an order dated December 23.
CERC has the mandate to notify the escalation rates for imported coal used to fire power plants. These rates are notified every six months.
According to the watchdog, Indonesian coal has been included in the index considering that it makes up for a pre- dominant share of steam coal imports into the country.
In 2010-11 period, about 73 per cent coal was imported from Indonesia while 24 per cent was from South Africa.
Average import of steam coal for the last three years shows about 76 per cent from Indonesia and 19 per cent from South Africa. During the same period, the dry fuel import from Australia was just about one per cent.
Despite insignificant steam coal imports from Australia, it would have 25 per cent weightage in the index.
"Australian coal has been retained in the composite index despite very low volume of consumption in India due to its liquidity, acceptability for contracts, and possibility of increased use of Australian coal in future," the order said.
The new index should be used to determine the escalation rates from April 1, 2014.
Regarding suggestions for country specific indices, CERC said that reliability could be an issue in such cases.
"The rationale for using composite index instead of country specific index is to induce efficiency in procurement and diversification of supplies," the order said.
Further, the regulator noted that the composite index would be subject to review and revision "as and when the need arises".
Source: Trust of India / Business Standard
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Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
Wednesday, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
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- ASAPP Information Group - India
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- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
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- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- The University of Queensland
- Kumho Petrochemical, South Korea
- Planning Commission, India
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- IEA Clean Coal Centre - UK
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- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Deloitte Consulting - India
- Minerals Council of Australia
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- Ministry of Transport, Egypt
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- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
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- Dalmia Cement Bharat India
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- Electricity Authority, New Zealand
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- The State Trading Corporation of India Ltd
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- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
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- Timah Investasi Mineral - Indoneisa
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- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
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- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
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- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
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- Bukit Asam (Persero) Tbk - Indonesia
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- Semirara Mining Corp, Philippines
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- Merrill Lynch Commodities Europe
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- Energy Link Ltd, New Zealand
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- Pipit Mutiara Jaya. PT, Indonesia
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- TeaM Sual Corporation - Philippines
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- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
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- Bharathi Cement Corporation - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
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- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
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- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
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- Global Business Power Corporation, Philippines
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- Bank of Tokyo Mitsubishi UFJ Ltd
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