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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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Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
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- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
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- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
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