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Monday, 30 December 13
INDONESIAN COAL TO BE PART OF INDEX DETERMINING POWER TARIFFS - BUSINESS STANDARD
In a significant move, power sector regulator CERC has decided to provide 50 per cent weightage for Indonesian coal in the benchmark index that is used to determine escalation rates for electricity generated using imported dry fuel.
The move would help in having a benchmark in deciding the escalation rates for electricity generated by power plants that are fired by Indonesian coal.
It also assumes significance amid deadlock between various power generators and procurers over increasing the electricity tariff due to rise in imported coal prices.
The Central Electricity Regulatory Commission (CERC) has decided to include Indonesian coal, besides South African and Australian dry fuel, in the composite index for imported coal for payment purposes.
Currently for payment purposes, the index takes into account only Australian and South African coal.
The Commission said the decision to revise the index has been taken after considering the composition of steam coal imports as well as the importance and acceptability of indices in international contracts.
"The weights of different coal in the composite index shall include 25 per cent Australian coal, 25 per cent South African coal, and 50 per cent Indonesian coal," the Commission said in an order dated December 23.
CERC has the mandate to notify the escalation rates for imported coal used to fire power plants. These rates are notified every six months.
According to the watchdog, Indonesian coal has been included in the index considering that it makes up for a pre- dominant share of steam coal imports into the country.
In 2010-11 period, about 73 per cent coal was imported from Indonesia while 24 per cent was from South Africa.
Average import of steam coal for the last three years shows about 76 per cent from Indonesia and 19 per cent from South Africa. During the same period, the dry fuel import from Australia was just about one per cent.
Despite insignificant steam coal imports from Australia, it would have 25 per cent weightage in the index.
"Australian coal has been retained in the composite index despite very low volume of consumption in India due to its liquidity, acceptability for contracts, and possibility of increased use of Australian coal in future," the order said.
The new index should be used to determine the escalation rates from April 1, 2014.
Regarding suggestions for country specific indices, CERC said that reliability could be an issue in such cases.
"The rationale for using composite index instead of country specific index is to induce efficiency in procurement and diversification of supplies," the order said.
Further, the regulator noted that the composite index would be subject to review and revision "as and when the need arises".
Source: Trust of India / Business Standard
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Friday, 20 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. Th ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
Wednesday, 18 December 13
DEMOLITION ACTIVITY SCALED BACK AS FREIGHT RATES RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's always been the case that each time we witness a spike in freight rates, demolition activity is decreasing, as owners are looking for more car ...
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- Commonwealth Bank - Australia
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- Bayan Resources Tbk. - Indonesia
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- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
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- Bhoruka Overseas - Indonesia
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- Bulk Trading Sa - Switzerland
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- Merrill Lynch Commodities Europe
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- Eastern Coal Council - USA
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
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- Thai Mozambique Logistica
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- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
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- Africa Commodities Group - South Africa
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- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
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- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
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- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Economic Council, Georgia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
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- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Videocon Industries ltd - India
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- Thiess Contractors Indonesia
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- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
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- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
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- Sakthi Sugars Limited - India
- Parliament of New Zealand
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- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
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- European Bulk Services B.V. - Netherlands
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- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
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- Rashtriya Ispat Nigam Limited - India
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- Goldman Sachs - Singapore
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- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Indian Energy Exchange, India
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- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
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- White Energy Company Limited
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- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
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- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
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