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Monday, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
.jpg) Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market prices, utilities and analysts said.
Prices paid by the utilities will move monthly in line with the international spot market. "The Indian state utilities are moving to index-linked prices because this is a more transparent way of buying coal," said Mark Earley, Head Asia Pacific Coal Consulting at Wood Mackenzie.
Utilities led by National Thermal Power Corp (NTPC) are using a basket of coal indexes: the API4 South African index, the Newcastle Australian coal FOB index with adjustments for bunker prices.
"We are certainly looking at index pricing for our independent power plant in Tamil Nadu as well," said Coal & Oil President Ahmed Buhari. "We have been advocating this concept for a long time, and are happy to see NTPC taking the lead."
"This concept is finding widespread acceptance, as annual fixed-price contracts swayed much," he said.
All India's state utilities are moving to index-pricing for imports and will use NTPC's formula, said Malay K. De, chairman of West Bengal State Electricity Distribution Co.
Gujarat Electricity Board will award a tender for 1.5 million tonnes of coal for 2010 in the next few weeks, also at index-linked prices. Almost all European utilities buy coal at prices linked to benchmark indexes so that they can manage price risk by using coal derivatives to hedge.
Buying coal on floating index-prices without hedging is the most risky strategy possible for a consumer, European utilities and traders said.
Utilities in Japan and Korea are also looking at indexing to curb risk but in India few players hedge, politics have been a major factor behind the pricing switch. Indian utilities can pass on higher imported coal costs to consumers so price risk control is not a priority for them.
Imported coal buying became a hot political issue in July when MMTC was forced to re-issue a tender after a trader publicly demanded the government and the Central Bureau of Investigation look into unfair procurement practices.
Since the MMTC re-tender, state utilities' buying has been under close scrutiny. Using international indexes enables them to avoid a similar public fuss.
COMPETITION WITH CHINA
India's growing need for coal imports will force buyers to adopt internationally-accepted business terms and to stop seeking discounted prices, Earley said.
"They also know they need to adapt more to the region's way of doing business, to be able to source enough coal when supply is going to be tight in Asia," Earley said. Chinese buyers do not seek discounts and move much more swiftly than their Indian counterparts to secure coal cargoes and mining assets, he said.
This will become increasingly critical if all the projected new power plants are built between now and 2012. India's coal demand could rise to 731 million tonnes in fiscal 2011/12 against production of 520 million tonnes, leaving a huge shortfall for imports.
"The Indian utilities need to build a more credible presence in the international coal market as demand forecasts show that they are likely to be importing in the region of 100 million tonnes a year before long," Earley said.
Source: Economic Times
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Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010
Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November ...
Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
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- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- MS Steel International - UAE
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
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