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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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Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
Friday, 04 December 09
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with ...
Thursday, 03 December 09
JAPAN 2010 COAL IMPORTS SEEN FLAT, INDIA'S ROBUST - INDUSTRY
* Japan's demand seen steady in 2010 at 110 mln tonnes
* India's demand seen as robust, at 70 mln tonnes
Reuters reported that, Thermal coal i ...
Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to co ...
Thursday, 03 December 09
INDONESIA SEEKS TO INCREASE COAL SHIPMENTS TO INDIA, CHINA
Bloomberg reproted that, Indonesia, Asia’s biggest coal exporter, seeks to increase shipments to India and China as the economies improve and ...
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- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
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- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
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- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
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- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
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- Billiton Holdings Pty Ltd - Australia
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- Gujarat Electricity Regulatory Commission - India
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- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
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- Directorate General of MIneral and Coal - Indonesia
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- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
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- Price Waterhouse Coopers - Russia
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- Global Coal Blending Company Limited - Australia
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- ICICI Bank Limited - India
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- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
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- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
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- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
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- Banpu Public Company Limited - Thailand
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- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
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- The Treasury - Australian Government
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- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
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- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
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- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
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- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
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- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
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- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
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- Parliament of New Zealand
- SMC Global Power, Philippines
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