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Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT


COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with  calorific value 6300 Kcal/kg and Total Moisture of 16 percent coal on air dried basis at INR 5,688 (equivalent US$ 127.53  - exchange rate approximately INR 44.60 per USD) on delivered basis, which includes import duty, stevedoring, taxes, railway freight etc.  This delivered price is works out to around 94 – 95 per MT on CIF , Chennai basis.

The delivery of first cargo should starts from June this year. The supplier must supply at least 100,000 MT of every month starting from June 2011.

Six Indian based coal trading companies have participated this bidding to supply one million tons 6300 GAD coal. The price bids has opened today 23 April 2011, at around 11:00 Indian standard time.

Gupta coal has offered lowest price of INR 5,688 on delivered basis to bag this order from KPCL. INR 5688 is approximately US$ 127.53 per MT on delivered basis, said our source. Coal prices at the globalCOAL Newcastle weekly index, a benchmark for Asia, were down 1.33 percent at $121.48 a ton, week ended 22 April 2011, according to GlobalCOAL website.

We are looking for US$ 123-124 per mt for 6000 gar calorific value coal for second half of this year, an Indonesian premium coal producer said. Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price (HBA) for thermal coal at US$ 122.02 per ton.

Assessment basis of coal price reference was calculated considering coal with GCV (GAR)  6,322 kcal/kg, Total Moisture (arb) 8 percent, Total Sulphur 0.8 percent, Ash Content 15 percent, delivery free on Board (FOB) Vessel basis  and applicable for spot contract, delivery within 1 - 30 April 2011.

Coastal Energy Private Limited, an Indian arm of international coal trader Coal & Oil Company Dubai, has offered second lowest price of INR 6,426 per mt on delivered basis or approximately US$ 111 on CIF, Chennai basis.

The highest price that KPCL has received was around US$ 161.50 on delivered basis, according to our sources familiar to the tender.

This coal supply is destined for its 1,720 MW Raichur thermal power station (RTPS) in Raichur Karnataka. Due to short of domestic coal linkage to RTPS, the KPCL has to resort to higher usage of imported coal.

Earlier in 2010 due to acute shortage of domestic coal RTPS has concluded two imported coal tenders of 900K MTs and 500K mts respectively.

Both the tenders have been bagged by Nagpur  based Gupta Coal Corporation, who were also become lowest bidder of this tender.

Delhi based Knowledge Infrastructure Systems Pvt. Ltd once again offered the lowest price of US$ 93.44 per metric ton for calorific value of 6000 GAD and 15 percent total moisture coal for TNPL, a state utility of Tamil Nadu, against its recent tender to supply 160K of thermal coal.

As per tender terms, a pro-rata penalties are applicable for Gross calorific value and total sulphur and weight basis penalties are applicable for  Ash content, Total Moisture and size.



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