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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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Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Latin American Coal - Colombia
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