We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
Friday, 07 August 09
COAL-PRICE FORECAST RAISED AT MERRILL ON CHINA, INDIA DEMAND
Bloomberg reported that, Bank of America Corp.’s Merrill Lynch & Co. unit increased its price forecast for Asian power-station coal becaus ...
Friday, 07 August 09
CHINESE DEMAND FOR FOREIGN COAL SOARS
Mining Weekly reported that, Chinese coal imports rocketed by 126,3%, year-on-year, in the first half of this year, the country’s customs auth ...
Thursday, 06 August 09
RICHARDS BAY COAL SHIPMENTS FELL 3% ON YEAR IN JULY
Bloomberg reported that, Richards Bay Coal Terminal, Africa’s largest coal-export facility, exported 3 percent less of the fuel in July than i ...
Thursday, 06 August 09
CHINA JULY COAL IMPORTS AT 9.5 MLN T, DEMAND FIRM
* Coal imports at key ports in July 2.8 times year-ago levels
* July coal imports down nearly 40 percent from June
* China still buying overseas c ...
|
|
|
Showing 6531 to 6535 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Australian Coal Association
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Minerals Council of Australia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
|
| |
| |
|
