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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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Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010
Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November ...
Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
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- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
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