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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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Thursday, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
Monday, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
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- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
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