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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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Wednesday, 03 November 21
CHINA TO LAUNCH NEW DATA MONITORING SYSTEM, TARGETING COAL MARKET SPECULATION, HOARDING - GLOBAL TIMES
China’s top economic planner announced on Sunday a new data system for supervising the implementation of medium- and long-term contracts of c ...
Wednesday, 03 November 21
CHINA’S STATE PLANNER SAYS COAL SUPPLY IMPROVING, PRICES STABILISING - REUTERS
China’s coal supply situation has seen significant improvement with joint efforts from coal producers, logistics and downstream users, while ...
Wednesday, 03 November 21
HIGHER COKING COAL PRICES TO PARE PROFITABILITY OF STEELMAKERS IN SECOND HALF OF FY22 - CRISIL RATINGS
The operating margin of primary steelmakers will reduce by a third to 24-26% in the second half of this fiscal versus the first half as input cost ...
Wednesday, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
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- PowerSource Philippines DevCo
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- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
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- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
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- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
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- Simpson Spence & Young - Indonesia
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- Africa Commodities Group - South Africa
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- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
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- Eastern Coal Council - USA
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- Power Finance Corporation Ltd., India
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- Economic Council, Georgia
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- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
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- Petron Corporation, Philippines
- GMR Energy Limited - India
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- Australian Coal Association
- SMC Global Power, Philippines
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- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
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- Sindya Power Generating Company Private Ltd
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- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
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- Medco Energi Mining Internasional
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- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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- Bhushan Steel Limited - India
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- Planning Commission, India
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- Billiton Holdings Pty Ltd - Australia
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- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
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