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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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Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
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- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
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