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Indian utility Mahagenco awards 2 mil mt of thermal coal to three traders: source

Indian state-owned utility Mahagenco has awarded 2 million mt in thermal coal contracts for delivery to three of its plants to three separate Indian traders, a local trade source said.

The state-owned utility awarded the tender at $106/mt for Indonesian thermal coal delivered to the Koradi, Bhusawal and Chandrapur plants in central India starting in mid-February, the source said.

The price includes everything from tax and freight to customs, inland transportation and delivery to the three separate plants, the trader said.

Adani Enterprises was awarded the contract to deliver 1.2 million mt of thermal coal to the 2.4 GW Koradi plant; Ghandar Oil received the award to deliver 300,000 mt to the 1.21 GW Bhusawal plant and Chettinad Coal Trading Company was awarded the contract to deliver 500,000 mt to the 2.92 GW Chandrapur plant, the trader said.

The award for Indonesian coal came as US coal has been priced out of some parts of the Indian market, the trader said.

The trader said high sulfur (3%), mid CV (5,000-5,500 kcal/kg GAR) Indonesian coal has been finding a receptive market in India.

“We are not seeing great demand for US coal in India,” he said. “We have already started talking with Indonesian miners.”
Source: Platts

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