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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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Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
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- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
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