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Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that it would not start new round of bidding for coal import on spot for three months until revised mechanism is approved.
This was conveyed by the Company’s CEO Li Xin in a letter to Registrar Nepra, wherein the issues related to procurement of coal spot were discussed.
The company has been successfully using Afghan coal for almost four months now as requested by the Ministry of Energy (Power Division) and the total procurement made till October 11, 2022 in this respect is 448,273 tons.
The CEO HSR stated that Power Division has held one meeting and directed HSR and CPHGC to enter into a three-month agreement for coal supply and paid in PKR for Afghan/ spot market coal on October 9, 2022 together with CPPA-G and NPCC instead of monthly coal supply agreement.
Thus, in this regard the company has sought Authority’s approval and also wants to seek regulator’s approval as the company is procuring coal based on the criteria of one-month basis and has already been awarded Nepra’s approval in this regard; however, the company suggests that the criteria should be adjusted for three-month long-term coal supply without specifying the origin of the coal.
According to the new criteria suggested by the company, the bid price will carry 75 marks instead of 60 marks.
Financial strength will be 10 marks instead of 15, contract compliance will be 5 marks as compared to 10 marks, experience of past one year, 10 marks as compared to 13 marks, and experience to plant 0 in place of 2 marks.
The company maintained that penalties/liquidity damages that are imposed under the agreement are to protect the power plants’ equipment.
Thus, it should be allowed by Nepra to the plant and not be deducted in calculating the fuel price adjustment.
If two bidders get the same total weighted marks, the one with more experience be first priority.
Moreover, if the three-month approval is granted to the company, it would also like Nepra to cater for the following: (i) what would be indexation mechanism for price with three months long-term coal supply; (ii) how would the Authority cater to the fact that if during the said three months period the price of South African coal is cheaper than Afghan coal; (iii) The company has suggested that the API-46000 index should be referred by authority for comparison of South African coal and Afghan coal/spot market on MMBTU basis; (iv) the benchmark exchange rate used for the comparison of Afghan coal/ sport purchase; and (v) the bidding period/ process involved in the purchase of Afghan coal/spot purchases.
The company has requested Nepra to set up one transparent guideline for bidding process. Moreover, HSR will not start the new round of bidding process for three months, until it gets the written approval of the Authority.
Source: Business Recorder
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Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
Wednesday, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
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- Savvy Resources Ltd - HongKong
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- Eastern Coal Council - USA
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- Wood Mackenzie - Singapore
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- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
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- Electricity Authority, New Zealand
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- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
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- Indogreen Group - Indonesia
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- Jaiprakash Power Ventures ltd
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- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
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- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
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- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
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- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
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- Directorate Of Revenue Intelligence - India
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- Australian Coal Association
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
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- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
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- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
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- The University of Queensland
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- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
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- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
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- Directorate General of MIneral and Coal - Indonesia
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- Minerals Council of Australia
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- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
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- SMG Consultants - Indonesia
- PTC India Limited - India
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