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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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Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
Saturday, 27 September 14
MORE COAL MINERS AGREE TO AMEND CONTRACTS - THE JAKARTA POST
The Energy and Mineral Resources Ministry is in a rush to beat a deadline for the conclusion of numerous memorandums of understanding (MoUs) with t ...
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative f ...
Friday, 26 September 14
U.S WEEKLY COAL PRODUCTION FELL 1.8% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.80 million short tons (mmst) of c ...
Friday, 26 September 14
ORACLE SIGNS EPC FRAMEWORK AGREEMENT WITH SEPCO FOR COAL MINE AND POWER PLANT IN PAKISTAN
COALspot.com: Oracle Coalfields PLC, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, has ann ...
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- Deloitte Consulting - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
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