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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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Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
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- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
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