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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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Thursday, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
Monday, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
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- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Thai Mozambique Logistica
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
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