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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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Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
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- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- The University of Queensland
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- McConnell Dowell - Australia
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- Alfred C Toepfer International GmbH - Germany
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- Planning Commission, India
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- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
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- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
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- Edison Trading Spa - Italy
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- Renaissance Capital - South Africa
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- Directorate General of MIneral and Coal - Indonesia
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- VISA Power Limited - India
- New Zealand Coal & Carbon
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- The State Trading Corporation of India Ltd
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- Ministry of Transport, Egypt
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- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
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- Minerals Council of Australia
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- Energy Link Ltd, New Zealand
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- Samtan Co., Ltd - South Korea
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- Indonesian Coal Mining Association
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- Madhucon Powers Ltd - India
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- Economic Council, Georgia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
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- GMR Energy Limited - India
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- Marubeni Corporation - India
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- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
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- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
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- IEA Clean Coal Centre - UK
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- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
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