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Prices are same, but power companies look to foreign shores for coal

Distress purchase and Colombian shipments are some of the new sourcing strategies

coal, coal mines
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Amritha Pillay Mumbai
Power producers are on the lookout for cheaper coal even as the price of imported coal is almost on a par with that of the domestic variety.
 
Distress purchase and Colombian shipments are some of the new sourcing strategies.
 
“Indian companies are cost-sensitive and on the lookout for cheaper options, especially when vessel freight rates are favourable,” said Deepak Kannan, managing editor, S&P Global Platts.
 
This focus on cheaper coal has led to two major private power producers, Tata Power and JSW Energy, devising their coal-sourcing strategies.
 
“We try to buy distressed shipments, for instance, shipments

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