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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, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Romanian Commodities Exchange
- Renaissance Capital - South Africa
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
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- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
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- The University of Queensland
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- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
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- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
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- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
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