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Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
 COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindustan Times.
The Hindustan Times further reported, the coal supplier, Panem, had curtailed the supplies while demanding an increased price, forcing to Power Corporation to resort to load-shedding.
The move will burden the consumers by Rs. 500 crore to Rs. 700 crore (approximately US$ 82,706,150 to US$ 115,788,610) as the imported coal is costlier. The cost of fuel variation is always passed on to consumer by imposing fuel surcharge.
The memorandum put in the board of directors (BoD) admits the decision will increase the cost of generating electricity, the paper said.
Instead of resolving the matter with Panem, a case was put up before the BoD of the PSPCL to buy imported coal and it was approved.
According to Hindustan Times, the PSPCL has taken the decision despite knowing well that the former Punjab State Electricity Board had a bitter experience as it had discontinued the import of coal supplies in 2006.
According to the memorandum, the PSPCL BoD has approved buying of 1.2 million metric tonne of coal costing Rs. 9,300 (approximately US$ 153.83) per metric tonne with an overall cost of Rs. 1,100 crore (approximately US$ 181,953,530). The imported coal will have 6,300 Kcal (per kg) gross calorific value (GCV). It’s higher than the coal being used by the PSPCL at present, which has 4,000 Kcal (per kg) and costs Rs. 3,700 (approximately US$ 61.20) per metric tonne.
The coal is almost two times costlier when we compare it with the GCV, but we have to bite the bullet to check the blackmailing by the Indian coal supplier, said a BOD member, adding that ultimately it was the consumer who would suffer.
The decision will have technical ramifications as the PSPCL plants run on coal having up to 4,000 kcal/kg of coal. Thus, the PSPCL has to blend the imported coal with Indian coal to adjust its calorific value. “The PSPCL will blend the Indian coal and the imported coal in the ratio of 82 and 18 to run the plants,” a BOD member said, adding that it would increase the power generation cost by 50 to 60 paise (approximately US$ 0.01) per unit, which would be borne by the consumer, the paper further said.
Panem has curtailed supplies to the PSPCL by 50 percent this year, leading to a coal crisis.
The Hindustan Times further said, Panem holds the contract for operating the PSPCL’s captive coal mine in Jharkhand. The company has already invoked arbitration proceedings against the PSPCL, demanding higher coal rates.
However, the decision to import coal has to be cleared by the power regulator.
The PSPCL will move the Punjab State Power Regulatory Commission in the coming days, to get the nod for buying imported coal, said Hindustan Times.
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Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
Thursday, 28 August 14
PANAMAX: OWNERS CAN GET AROUND USD 16000 FOR A FRONTHAUL; PERIOD MARKET - VERY QUIET - FEARNLEYS
Handy
The activity and sentiment is improving in the Atlantic with the general TA rate is up about US$ 800 w-o-w. We see more South American carg ...
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- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
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