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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
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Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
Monday, 31 August 09
INDONESIA ADARO'S NET PROFIT SOARS 1,506 PERCENT ON HIGH PRICES
The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 ...
Sunday, 30 August 09
THE FUTURES FOR THREE YEARS FOR 2010-2012 IS AROUND PANAMAX / US$ 15,500 & SUPRAMAX / US$ 13,500 PER DAY
COALspot.com (Singapore): The dry bulk market continued to be soft this week and the BDI was almost stable and closed at 2,421 points this week.
...
Friday, 28 August 09
INDONESIA SEEKS TO INCREASE COAL PRODUCTION TO BOLSTER REVENUE
The Jakarta Post, the leading english news paper in Indonesia reported that, Indonesia expects to increase coal production by up to 20 million tons ...
Friday, 28 August 09
MERCURIA ENERGY OPENS INDONESIA TRADING OFFICE
COALspot.com ( Indonesia): Mercuria Energy Group has opened a new office in Jakarta, Indonesia, focussed on trading coal.
Jakarta-based Emanuele ...
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- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Australian Coal Association
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
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