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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, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- CNBM International Corporation - China
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