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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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- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- The University of Queensland
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
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