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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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Friday, 26 September 14
NEWCASTLMAXES ARE THE MOST SOUGHT AFTER VESSELS BY SHIP OWNERS TODAY SAYS VESSELS VALUE
KNOWLEDGE TO ELEVATE
Determining a ship’s fair value can be a very tricky business, especially when you’re the one paying. As such ...
Thursday, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
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- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Marubeni Corporation - India
- White Energy Company Limited
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
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