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