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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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Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
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