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Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
 COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindustan Times.
The Hindustan Times further reported, the coal supplier, Panem, had curtailed the supplies while demanding an increased price, forcing to Power Corporation to resort to load-shedding.
The move will burden the consumers by Rs. 500 crore to Rs. 700 crore (approximately US$ 82,706,150 to US$ 115,788,610) as the imported coal is costlier. The cost of fuel variation is always passed on to consumer by imposing fuel surcharge.
The memorandum put in the board of directors (BoD) admits the decision will increase the cost of generating electricity, the paper said.
Instead of resolving the matter with Panem, a case was put up before the BoD of the PSPCL to buy imported coal and it was approved.
According to Hindustan Times, the PSPCL has taken the decision despite knowing well that the former Punjab State Electricity Board had a bitter experience as it had discontinued the import of coal supplies in 2006.
According to the memorandum, the PSPCL BoD has approved buying of 1.2 million metric tonne of coal costing Rs. 9,300 (approximately US$ 153.83) per metric tonne with an overall cost of Rs. 1,100 crore (approximately US$ 181,953,530). The imported coal will have 6,300 Kcal (per kg) gross calorific value (GCV). It’s higher than the coal being used by the PSPCL at present, which has 4,000 Kcal (per kg) and costs Rs. 3,700 (approximately US$ 61.20) per metric tonne.
The coal is almost two times costlier when we compare it with the GCV, but we have to bite the bullet to check the blackmailing by the Indian coal supplier, said a BOD member, adding that ultimately it was the consumer who would suffer.
The decision will have technical ramifications as the PSPCL plants run on coal having up to 4,000 kcal/kg of coal. Thus, the PSPCL has to blend the imported coal with Indian coal to adjust its calorific value. “The PSPCL will blend the Indian coal and the imported coal in the ratio of 82 and 18 to run the plants,” a BOD member said, adding that it would increase the power generation cost by 50 to 60 paise (approximately US$ 0.01) per unit, which would be borne by the consumer, the paper further said.
Panem has curtailed supplies to the PSPCL by 50 percent this year, leading to a coal crisis.
The Hindustan Times further said, Panem holds the contract for operating the PSPCL’s captive coal mine in Jharkhand. The company has already invoked arbitration proceedings against the PSPCL, demanding higher coal rates.
However, the decision to import coal has to be cleared by the power regulator.
The PSPCL will move the Punjab State Power Regulatory Commission in the coming days, to get the nod for buying imported coal, said Hindustan Times.
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Thursday, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
...
Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- London Commodity Brokers - England
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- White Energy Company Limited
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
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