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Tuesday, 14 July 09
MMTC SAYS MAY RE-TENDER FOR 12.5 MLN T COAL
 * KIS has demanded investigation into procurement
* MMTC says import delays could add to power shortages
Alibaba reported that, India's state-run MMTC may re-issue a tender for 12.5 million tonnes of thermal coal after a complaint from a trader, MMTC Chairman Sanjiv Bhatra said on Tuesday.
"We are waiting for a response from the Commerce Ministry before we decide what to do. It's following complaints by a trader who made an offer into the tender but was disqualified," Bhatra told Reuters.
Indian trading company Knowledge Infrastructure Systems (KIS) has demanded an investigation into MMTC's coal procurement processes by India's Central Bureau of Investigation (CBI), KIS Chairman Rahul Bhandare said.
KIS has written to the CBI, to the Commerce Ministry and to the Prime Minister's office, he said.
In common with other traders, KIS argues that current terms for tenders by MMTC are restrictive and disadvantage smaller companies or those that do not have foreign partners. "I wrote to the prime minister and others. There was no level playing field and they had to take cognisance of it. We decided to take a moral stand on this issue," he said.
"They (MMTC) will have to do the tender again with more transparency and fairness," he added.
MMTC is India's state-run trading house responsible for buying commodities on behalf of other state entities. MMTC's Bhatra said the company simply imposed the rules of the buyers that it represents.
MMTC buys coal on behalf of state utilities including the largest, state-run National Thermal Power Corp. The tender, which closed on June 4, was issued on behalf of NTPC.
Any delays to coal procurement will exacerbate India's shortage of fuel for power generation, Bhatra said. "Stocks at the power plants are critically low. Coal is needed urgently." During the past four years almost all of MMTC's coal tenders have been awarded to traders Adani, a subsidiary of the Adani Group, rival Indian trading companies said.
Four trading companies offered into the disputed tender and three met the terms, including Adani, Bhatra said. KIS did not qualify, he said.
Bhandare denied KIS had been disqualified.
Adani was not immediately available for comment.
MORE NEEDED, TRADERS SAY
Some of MMTC's rules have been relaxed to encourage broader participation but more needs to be done, Indian traders said.
"When they re-tender with the new rules which are expected, this will open the doors," said one Indian trader who declined to be identified.
Saurabh Kirpal, a barrister representing KIS, said some clauses are particularly restrictive. "Given the nature and structure of the coal supply business in India, these clauses restrict competition only to Adani," he said.
For example, bidders must pay an Earnest Money Deposit of 2 percent of contract value if they have supplied over 10 million tonnes of coal in a year and 8 percent of value if they have supplied over 2 million tonnes.
"This makes bidding non-viable for smaller bidders. There is no discernible rationale for such a clause," Kirpal said.
Bidders must also have supplied over 2 million tonnes of coal to India.
Another clause of the tender states that MMTC will only pay a foreign principal for imported coal, requiring Indian bidders to have a joint venture in place.
Clarifications on these points were issued on May 30 just days ahead of the offer deadline of June 4, Kirpal said.
Other Indian traders who wanted to offer expressed frustration at the lack of time to make necessary arrangements for payment and what they saw as a sudden and unexpected change to the tender terms which prevented them from offering.
"These clauses were already in the terms of the tender. Nothing new was added, we merely issued clarification on request," MMTC's Bhatra said.
Source: Alibaba
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Thursday, 09 July 09
COAL AND OIL GROUP TO INVEST $300 MN TO BUY SHIPS AND ACQUIRE COAL MINE
Coal & Oil Group is planning to invest around $300 million (around Rs 1,500 crore) to buy new ships and to acquire coal mines. The company is pl ...
Thursday, 09 July 09
NO TRADE ON AUSTRALIA'S ASX COAL FUTURES DEBUT
*ASX's deliverable thermal coal futures debut without trade
*ASX says futures could present new arbitrage opportunities
The debut of Australia ...
Wednesday, 08 July 09
GERMAN COAL PRODUCTION DECREASED BY 31% TO ROUND 3.4 MILLION TON IN 1Q 2009 - COAL IMPORTERS ASSOCIATION, HAMBURG
COALspot.com (Germany):
World Coal Market
According to analysis of VEREIN DER KOHLENIMPORTEURE E.V. , On a quantity basis the s ...
Wednesday, 08 July 09
HUADIAN POWER BUYS INTO COAL MINERS
Huadian Power International Corporation - China's largest independent power producerCannounced Tuesday in a filing to the Shanghai Stock Exchange ...
Tuesday, 07 July 09
RICHARDS BAY TERMINAL COAL EXPORTS ROSE 7.2% IN JUNE
Richards Bay Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments rose 7.2 percent in June from a year earlier.
Export ...
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- Chamber of Mines of South Africa
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- Medco Energi Mining Internasional
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- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
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- White Energy Company Limited
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
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- Sical Logistics Limited - India
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- Singapore Mercantile Exchange
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- Posco Energy - South Korea
- SMG Consultants - Indonesia
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- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
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- Bahari Cakrawala Sebuku - Indonesia
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- Coal and Oil Company - UAE
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- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
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- Semirara Mining and Power Corporation, Philippines
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- Bulk Trading Sa - Switzerland
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- Tata Chemicals Ltd - India
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- Latin American Coal - Colombia
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- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
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- Eastern Coal Council - USA
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Siam City Cement PLC, Thailand
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- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
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- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- The State Trading Corporation of India Ltd
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- Commonwealth Bank - Australia
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- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
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- Ministry of Mines - Canada
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
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- Mjunction Services Limited - India
- Romanian Commodities Exchange
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- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
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- Essar Steel Hazira Ltd - India
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- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
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- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Thai Mozambique Logistica
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- Georgia Ports Authority, United States
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- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
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- Sakthi Sugars Limited - India
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- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
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- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
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- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
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- Price Waterhouse Coopers - Russia
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