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Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that it would not start new round of bidding for coal import on spot for three months until revised mechanism is approved.
This was conveyed by the Company’s CEO Li Xin in a letter to Registrar Nepra, wherein the issues related to procurement of coal spot were discussed.
The company has been successfully using Afghan coal for almost four months now as requested by the Ministry of Energy (Power Division) and the total procurement made till October 11, 2022 in this respect is 448,273 tons.
The CEO HSR stated that Power Division has held one meeting and directed HSR and CPHGC to enter into a three-month agreement for coal supply and paid in PKR for Afghan/ spot market coal on October 9, 2022 together with CPPA-G and NPCC instead of monthly coal supply agreement.
Thus, in this regard the company has sought Authority’s approval and also wants to seek regulator’s approval as the company is procuring coal based on the criteria of one-month basis and has already been awarded Nepra’s approval in this regard; however, the company suggests that the criteria should be adjusted for three-month long-term coal supply without specifying the origin of the coal.
According to the new criteria suggested by the company, the bid price will carry 75 marks instead of 60 marks.
Financial strength will be 10 marks instead of 15, contract compliance will be 5 marks as compared to 10 marks, experience of past one year, 10 marks as compared to 13 marks, and experience to plant 0 in place of 2 marks.
The company maintained that penalties/liquidity damages that are imposed under the agreement are to protect the power plants’ equipment.
Thus, it should be allowed by Nepra to the plant and not be deducted in calculating the fuel price adjustment.
If two bidders get the same total weighted marks, the one with more experience be first priority.
Moreover, if the three-month approval is granted to the company, it would also like Nepra to cater for the following: (i) what would be indexation mechanism for price with three months long-term coal supply; (ii) how would the Authority cater to the fact that if during the said three months period the price of South African coal is cheaper than Afghan coal; (iii) The company has suggested that the API-46000 index should be referred by authority for comparison of South African coal and Afghan coal/spot market on MMBTU basis; (iv) the benchmark exchange rate used for the comparison of Afghan coal/ sport purchase; and (v) the bidding period/ process involved in the purchase of Afghan coal/spot purchases.
The company has requested Nepra to set up one transparent guideline for bidding process. Moreover, HSR will not start the new round of bidding process for three months, until it gets the written approval of the Authority.
Source: Business Recorder
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Monday, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
...
Friday, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
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- Romanian Commodities Exchange
- Marubeni Corporation - India
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- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
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- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
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- Antam Resourcindo - Indonesia
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- Australian Coal Association
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- Merrill Lynch Commodities Europe
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- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
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- Cement Manufacturers Association - India
- SMC Global Power, Philippines
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- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
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- Georgia Ports Authority, United States
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- Parliament of New Zealand
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- Bahari Cakrawala Sebuku - Indonesia
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- Leighton Contractors Pty Ltd - Australia
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- India Bulls Power Limited - India
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- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
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- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
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- Economic Council, Georgia
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- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
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- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
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- Planning Commission, India
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- Chamber of Mines of South Africa
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- The Treasury - Australian Government
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- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
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- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
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- The State Trading Corporation of India Ltd
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- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
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- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
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- Electricity Authority, New Zealand
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