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Monday, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
.jpg) Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market prices, utilities and analysts said.
Prices paid by the utilities will move monthly in line with the international spot market. "The Indian state utilities are moving to index-linked prices because this is a more transparent way of buying coal," said Mark Earley, Head Asia Pacific Coal Consulting at Wood Mackenzie.
Utilities led by National Thermal Power Corp (NTPC) are using a basket of coal indexes: the API4 South African index, the Newcastle Australian coal FOB index with adjustments for bunker prices.
"We are certainly looking at index pricing for our independent power plant in Tamil Nadu as well," said Coal & Oil President Ahmed Buhari. "We have been advocating this concept for a long time, and are happy to see NTPC taking the lead."
"This concept is finding widespread acceptance, as annual fixed-price contracts swayed much," he said.
All India's state utilities are moving to index-pricing for imports and will use NTPC's formula, said Malay K. De, chairman of West Bengal State Electricity Distribution Co.
Gujarat Electricity Board will award a tender for 1.5 million tonnes of coal for 2010 in the next few weeks, also at index-linked prices. Almost all European utilities buy coal at prices linked to benchmark indexes so that they can manage price risk by using coal derivatives to hedge.
Buying coal on floating index-prices without hedging is the most risky strategy possible for a consumer, European utilities and traders said.
Utilities in Japan and Korea are also looking at indexing to curb risk but in India few players hedge, politics have been a major factor behind the pricing switch. Indian utilities can pass on higher imported coal costs to consumers so price risk control is not a priority for them.
Imported coal buying became a hot political issue in July when MMTC was forced to re-issue a tender after a trader publicly demanded the government and the Central Bureau of Investigation look into unfair procurement practices.
Since the MMTC re-tender, state utilities' buying has been under close scrutiny. Using international indexes enables them to avoid a similar public fuss.
COMPETITION WITH CHINA
India's growing need for coal imports will force buyers to adopt internationally-accepted business terms and to stop seeking discounted prices, Earley said.
"They also know they need to adapt more to the region's way of doing business, to be able to source enough coal when supply is going to be tight in Asia," Earley said. Chinese buyers do not seek discounts and move much more swiftly than their Indian counterparts to secure coal cargoes and mining assets, he said.
This will become increasingly critical if all the projected new power plants are built between now and 2012. India's coal demand could rise to 731 million tonnes in fiscal 2011/12 against production of 520 million tonnes, leaving a huge shortfall for imports.
"The Indian utilities need to build a more credible presence in the international coal market as demand forecasts show that they are likely to be importing in the region of 100 million tonnes a year before long," Earley said.
Source: Economic Times
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Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
Saturday, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
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- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- The University of Queensland
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
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