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Thursday, 06 August 09
NTPC LOOKS TO BYPASS STATE TRADING FIRMS ON COAL IMPORT
 A reduced coal import bill for NTPC could lead to lower power tariffs
Live mint.com reported that, India’s largest power generation utility, NTPC Ltd, may directly import the coal it needs, instead of asking state-owned trading firms such as MMTC Ltd and State Trading Corp. of India Ltd (STC) to import the fuel for it.
The move, which could affect revenue from coal imports at these trading firms, is a fallout of a controversy surrounding MMTC’s execution of an order to import a record 12.5 million tonnes (mt) of coal valued at Rs6,000 crore for NTPC. That order is now stuck.
One of the bidders for the tender, Knowledge Infrastructure Systems Pvt. Ltd (KISPL), has alleged foul play in the way this order was executed, and has demanded an investigation into the procurement process and an intervention by the Prime Minister’s Office.
NTPC could reduce its coal import bill through direct imports that do not involve paying a commission to the trader. This could mean proportionately lower power generation costs and, consequently, lower tariffs.
“We plan to operationalize this sourcing mechanism by the end of this year and we are in talks with overseas coal mining firms in Indonesia and Australia for the same,” said a top NTPC executive who did not want to be identified. “We are aware about the controversy surrounding our 12.5mt coal contract with MMTC over which questions have been raised from some quarters.”
NTPC has a coal import policy in place and can only import coal through state trading firms such as MMTC and STC. This policy will need to be changed should NTPC want to import coal directly.
In an email communication, KISPL’s spokesperson voiced two concerns about the controversial 12.5mt contract. The first is NTPC’s use of an intermediary because this will lead to a mark-up in the imported cost of coal. “Since fuel cost is a pass-through, this additional cost is passed on to citizens in the form of increased power tariff and, hence, the process should be discouraged,” wrote the spokesperson.
The second has to do with the conditions of the import tender which the spokesperson claims are “against Central Vigilance Commission (CVC) guidelines and standard public sector tenders.” “The tender neither provides level playing ground for all the bidders nor does it seem to promote competition, which is the main basis behind public tenders.”
CVC is a government entity that serves as a sort of conscience keeper for state-owned companies.
Other bidders for the 12.5mt contract are Adani Enterprises Ltd and two consortia, Agarwal Coal Corp. Pvt. Ltd and Kowa Co. Ltd of Japan; and Dubai-based Coal and Oil Group (C&O), Coastal Energy Pvt. Ltd and Seapol Pvt. Ltd.
“The controversy has been raised as there is a conflict between various competitors. There is a divergent view on the qualification criteria between CVC and NTPC. We are stuck there. We have communicated to NTPC that either you get these qualification criteria cleared by the CVC or we get an approval from our board,” said a senior MMTC executive who did not want to be identified.
The same MMTC official maintained that NTPC’s decision to bypass a trading firm will only have a minimal impact on its turnover. “We are not regularly importing coal for NTPC. The last time we imported coal for them was in 2005-06—2.1 mt. I will not say that it is a loss of business as it is an additional business we are looking for. It is NTPC’s prerogative whether they want to do it through a trading company such as ours or themselves,” he said.
MMTC posted a net profit of Rs1,654.42 core on a turnover of Rs36,904.62 crore in 2008-09. Of this, revenue of Rs2,724 crore came from the coal business. The firm imported 3.7mt of coal in the last fiscal for state utilities. Mint could not immediately ascertain the share of NTPC in the state trading firm’s coal import business in previous years.
The size of the market for imported coal that goes into power generation in India is around 20mt a year, and is expected to double by 2012 as more thermal power projects come up.
Coal is critical for NTPC as at least 80% of its installed capacity of 30,644MW is coal-based. However, a majority of its coal-based projects don’t have sufficient stock of coal. NTPC used 125 million tonnes per annum (mtpa) of domestic coal in 2008-09 and 6.41 mtpa of imported coal. Indian coal has a high-ash content, one reason why some domestic coal-based power plants mix it with higher quality coal that is imported.
An Adani Group spokesperson could not be reached for comment and questions mailed to his email address bounced back. Questions emailed to the firm remained unanswered.
A consultant said that intermediaries usually add to the cost unless they can aggregate demand and get better bargains in the international market. “That, however, may not be the case with some of the larger utilities in India,” said Dipesh Dipu, principal consultant, mining, at audit and consulting firm PricewaterhouseCoopers,
India has known coal reserves of 255 billion tonnes, the fourth largest in the world. Coal accounts for at least 50% of India’s commercial energy consumption and around 78% of domestic coal production is dedicated to power generation.
Source: Live Mint
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Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-b ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
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- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- PTC India Limited - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
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