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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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Tuesday, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector ...
Tuesday, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
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- Ministry of Mines - Canada
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- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
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- Parliament of New Zealand
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- The University of Queensland
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- Independent Power Producers Association of India
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- Indika Energy - Indonesia
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- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
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- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
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- Malabar Cements Ltd - India
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- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
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- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
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- White Energy Company Limited
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- Holcim Trading Pte Ltd - Singapore
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- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
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- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
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- Australian Coal Association
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
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- Medco Energi Mining Internasional
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- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
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- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
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- Siam City Cement PLC, Thailand
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