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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, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
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