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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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Thursday, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- The University of Queensland
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
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