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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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Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Minerals Council of Australia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
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