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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, 05 September 14
U.S. PRODUCED 19.2 MMST OF COAL LAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 04 September 14
INDONESIAN COAL MINERS MAY GET MORE TIME ON ROYALTIES - FITCH RATINGS
COALspot.com: Fitch Ratings says that coal miners in Indonesia are likely to get more time to repay the government the royalties that were set off ...
Thursday, 04 September 14
INDONESIAN COAL SWAPS SLIDE THIS PAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.90 (-1.68%) day on day and US$ 1.80 (-3.31%) per mt week on week. The ...
Thursday, 04 September 14
CAPESIZE : SENTIMENT REMAINS POSITIVE FOR Q3/Q4 - FEARNRESEARCH
Handy
The Atlantic market has experienced more activity this week. Rates for TA´s are up about 8% w-o-w, much lead by an increasing number ...
Wednesday, 03 September 14
KOREA MIDLAND POWER CO. LTD INVITES BIDS FOR 1 MMT OF BITUMINOUS & SUB-BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: KOMIPO again in the market for 1 million tons of 5700 NAR and 4600 NAR coal for Jan – March 2015. South Korean state-owned util ...
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- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
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- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Binh Thuan Hamico - Vietnam
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- India Bulls Power Limited - India
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- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
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- Georgia Ports Authority, United States
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- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
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- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
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- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
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- Coal and Oil Company - UAE
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- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Parliament of New Zealand
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- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
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- Energy Development Corp, Philippines
- Indian Energy Exchange, India
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- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
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- Australian Coal Association
- Edison Trading Spa - Italy
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- Goldman Sachs - Singapore
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- LBH Netherlands Bv - Netherlands
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- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
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- Merrill Lynch Commodities Europe
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- Medco Energi Mining Internasional
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- Marubeni Corporation - India
- Commonwealth Bank - Australia
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- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
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- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- SMC Global Power, Philippines
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- Mintek Dendrill Indonesia
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- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
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- Kaltim Prima Coal - Indonesia
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- PowerSource Philippines DevCo
- Thai Mozambique Logistica
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- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
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- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
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- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
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- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
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- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
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