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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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Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- The University of Queensland
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
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