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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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Wednesday, 03 September 14
CFR S.CHINA COAL SWAP FOR JAN 2015 DELIVERY CLOSED AT $ 68.30 PMT; DOWN 2.43% W-O-W
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.95 (-1.39%) day on day and US$ 1.40 (-2.03%) week on wee ...
Tuesday, 02 September 14
BERAU COAL HAS AWARDED A CONTRACT EXTENSION TO BUMA FOR 647 MLN BCM OVERBURDEN REMOVAL
COALspot.com: PT Delta Dunia Makmur Tbk (“DOID”) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama (&l ...
Monday, 01 September 14
GLOBALCOAL WELCOMES TWO NEW MARKET MEMBERS
COALspot.com: globalCOAL® announced today that two Market Members have joined its trading community. Both new Market Members are from the India ...
Sunday, 31 August 14
COAL FREIGHT RATES INTO INDIA FROM INDONESIA FIRM
COALspot.com: The freight market continued to firm this week. BDI up 5.42 percent week ended 29 August and closed at 1147 points while the Ca ...
Saturday, 30 August 14
INDIAN GOVERNMENT SHOULD TAKE NOTICE: THERMAL COAL IMPORT PRICES EXTREMELY LOW - COMMODORE RESEARCH
COALspot.com: Both Indonesian and Australian thermal coal prices are at the lowest levels seen this decade, with Indonesia's monthly benchmark ...
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- McConnell Dowell - Australia
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- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
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- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- The University of Queensland
- Thiess Contractors Indonesia
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- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
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- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
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- PTC India Limited - India
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- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
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- Aboitiz Power Corporation - Philippines
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- Miang Besar Coal Terminal - Indonesia
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- Bhoruka Overseas - Indonesia
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- Renaissance Capital - South Africa
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- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
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- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
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- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
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- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
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- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
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- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
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- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
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- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
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