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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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Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
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- Vedanta Resources Plc - India
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- Economic Council, Georgia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Central Electricity Authority - India
- Cement Manufacturers Association - India
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- Pipit Mutiara Jaya. PT, Indonesia
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- SMC Global Power, Philippines
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- Minerals Council of Australia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
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- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
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- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Australian Coal Association
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- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
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- Global Green Power PLC Corporation, Philippines
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- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
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- Ministry of Transport, Egypt
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- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
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- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
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- Antam Resourcindo - Indonesia
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- Bulk Trading Sa - Switzerland
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- Planning Commission, India
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- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
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- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
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- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
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- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
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- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
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- Petron Corporation, Philippines
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- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
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- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
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- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
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- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
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