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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, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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