We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 06 August 09
NTPC LOOKS TO BYPASS STATE TRADING FIRMS ON COAL IMPORT
 A reduced coal import bill for NTPC could lead to lower power tariffs
Live mint.com reported that, India’s largest power generation utility, NTPC Ltd, may directly import the coal it needs, instead of asking state-owned trading firms such as MMTC Ltd and State Trading Corp. of India Ltd (STC) to import the fuel for it.
The move, which could affect revenue from coal imports at these trading firms, is a fallout of a controversy surrounding MMTC’s execution of an order to import a record 12.5 million tonnes (mt) of coal valued at Rs6,000 crore for NTPC. That order is now stuck.
One of the bidders for the tender, Knowledge Infrastructure Systems Pvt. Ltd (KISPL), has alleged foul play in the way this order was executed, and has demanded an investigation into the procurement process and an intervention by the Prime Minister’s Office.
NTPC could reduce its coal import bill through direct imports that do not involve paying a commission to the trader. This could mean proportionately lower power generation costs and, consequently, lower tariffs.
“We plan to operationalize this sourcing mechanism by the end of this year and we are in talks with overseas coal mining firms in Indonesia and Australia for the same,” said a top NTPC executive who did not want to be identified. “We are aware about the controversy surrounding our 12.5mt coal contract with MMTC over which questions have been raised from some quarters.”
NTPC has a coal import policy in place and can only import coal through state trading firms such as MMTC and STC. This policy will need to be changed should NTPC want to import coal directly.
In an email communication, KISPL’s spokesperson voiced two concerns about the controversial 12.5mt contract. The first is NTPC’s use of an intermediary because this will lead to a mark-up in the imported cost of coal. “Since fuel cost is a pass-through, this additional cost is passed on to citizens in the form of increased power tariff and, hence, the process should be discouraged,” wrote the spokesperson.
The second has to do with the conditions of the import tender which the spokesperson claims are “against Central Vigilance Commission (CVC) guidelines and standard public sector tenders.” “The tender neither provides level playing ground for all the bidders nor does it seem to promote competition, which is the main basis behind public tenders.”
CVC is a government entity that serves as a sort of conscience keeper for state-owned companies.
Other bidders for the 12.5mt contract are Adani Enterprises Ltd and two consortia, Agarwal Coal Corp. Pvt. Ltd and Kowa Co. Ltd of Japan; and Dubai-based Coal and Oil Group (C&O), Coastal Energy Pvt. Ltd and Seapol Pvt. Ltd.
“The controversy has been raised as there is a conflict between various competitors. There is a divergent view on the qualification criteria between CVC and NTPC. We are stuck there. We have communicated to NTPC that either you get these qualification criteria cleared by the CVC or we get an approval from our board,” said a senior MMTC executive who did not want to be identified.
The same MMTC official maintained that NTPC’s decision to bypass a trading firm will only have a minimal impact on its turnover. “We are not regularly importing coal for NTPC. The last time we imported coal for them was in 2005-06—2.1 mt. I will not say that it is a loss of business as it is an additional business we are looking for. It is NTPC’s prerogative whether they want to do it through a trading company such as ours or themselves,” he said.
MMTC posted a net profit of Rs1,654.42 core on a turnover of Rs36,904.62 crore in 2008-09. Of this, revenue of Rs2,724 crore came from the coal business. The firm imported 3.7mt of coal in the last fiscal for state utilities. Mint could not immediately ascertain the share of NTPC in the state trading firm’s coal import business in previous years.
The size of the market for imported coal that goes into power generation in India is around 20mt a year, and is expected to double by 2012 as more thermal power projects come up.
Coal is critical for NTPC as at least 80% of its installed capacity of 30,644MW is coal-based. However, a majority of its coal-based projects don’t have sufficient stock of coal. NTPC used 125 million tonnes per annum (mtpa) of domestic coal in 2008-09 and 6.41 mtpa of imported coal. Indian coal has a high-ash content, one reason why some domestic coal-based power plants mix it with higher quality coal that is imported.
An Adani Group spokesperson could not be reached for comment and questions mailed to his email address bounced back. Questions emailed to the firm remained unanswered.
A consultant said that intermediaries usually add to the cost unless they can aggregate demand and get better bargains in the international market. “That, however, may not be the case with some of the larger utilities in India,” said Dipesh Dipu, principal consultant, mining, at audit and consulting firm PricewaterhouseCoopers,
India has known coal reserves of 255 billion tonnes, the fourth largest in the world. Coal accounts for at least 50% of India’s commercial energy consumption and around 78% of domestic coal production is dedicated to power generation.
Source: Live Mint
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 08 September 09
SOUTH AFRICAN COAL EXPORTS MAY RISE ON SALES TO INDIA
Bloomberg reported that, South African coal exports may rise to 100 million metric tons a year by 2020 and India may become the biggest destination ...
Monday, 07 September 09
VALE SPENT $300 MILLION AT MOZAMBIQUE COAL MINE
Bloomberg rported that, Vale SA, the world’s biggest iron- ore producer, has so far spent about $300 million of the $1.3 billion investment in ...
Monday, 07 September 09
INDIA MAY BOOST COAL IMPORTS FROM INDONESIA - PLAN JVS
WSJ reported taht, India agreed to study setting up joint ventures with Indonesian companies to acquire coal assets, and look at other means of impo ...
Monday, 07 September 09
INDIAN COAL MAY NOT POWER NEW UMPPS
The Economic Times reported that, bidders for new ultra mega power projects (UMPP) may not get assured coal supplies from domestic mines. As per the ...
Saturday, 05 September 09
THE ECI / CHINA (S7) ROUTE SOFTENED BY ALMOST 12% AND THE CHARTER HIRE WAS AT US$ 16,346 PER DAY - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI almost same as last week at 2,415 points.The Panamax index went up b ...
|
|
|
Showing 6446 to 6450 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
|
| |
| |
|
