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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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Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
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- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Australian Coal Association
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
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