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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, 06 December 21
CHINA SETS 2022 ANNUAL THERMAL COAL PRICES AT 700 YUAN/T - MEDIA: REUTERS
China’s top economic planner has proposed to set annual thermal coal prices for 2022 at between 550 yuan and 850 yuan ($86-$133) per tonne, a ...
Thursday, 02 December 21
BUMI RECORDED US$ 666.18 MILLION AS REVENUE IN THE 3RD QUARTER, UP 13.31% YOY
PT Bumi Resources Tbk and its subsidiaries have recorded a surge in revenue in the third quarter of 2021. BUMI has recorded US$ 666.18 million as r ...
Thursday, 02 December 21
CHINA'S COAL CRUNCH IS OVER, BUT PRICES ARE STILL TOO HIGH - REUTERS
China’s coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter.
...
Wednesday, 01 December 21
2022 OUTLOOK: INDONESIAN COAL MINING - FITCH RATINGS
Fitch Ratings has a neutral outlook on the Indonesian coal sector for 2022.
Earnings generation should slow down as selling pr ...
Wednesday, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
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- Posco Energy - South Korea
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- South Luzon Thermal Energy Corporation
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- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
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- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
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- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- PTC India Limited - India
- Eastern Energy - Thailand
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- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
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- Siam City Cement - Thailand
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- Ministry of Mines - Canada
- Indian Oil Corporation Limited
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- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
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- Bhatia International Limited - India
- The University of Queensland
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
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- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
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- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
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- International Coal Ventures Pvt Ltd - India
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- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
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- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
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- Energy Development Corp, Philippines
- White Energy Company Limited
- Economic Council, Georgia
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- Kaltim Prima Coal - Indonesia
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- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
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- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
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- SN Aboitiz Power Inc, Philippines
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- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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