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Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD


Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on coal from select mines ranging from Rs 109 to 521 (US$ 2.32 - 11.10) per tonne over the basic price depending on the quality and the distance from the customers.

The new prices, which have come into effect from April, are expected to bring in an additional Rs 20 crore (US$ 4.264 million) to the coal company this year. More than the revenues, the exercise is part of the efforts to spread the customer base uniformly across the mines.

 “There has been more demand for coal from certain mines. This will upset the distribution cycles,” SCCL chairman and managing director S Narsing Rao told Business Standard. However, the power utilities are exempted from the price rise.

According to Rao, there would be minor quality variations in coal across the mines. However, many were intended to have coal from only specific mines due to logistics reasons as transport costs add to the overall landing costs.

The premium, which is about 10 per cent of the base price of coal, is fixed based on the quality, availability and transportation ease, he said.

Apart from the power sector, which is the largest consumer of coal, SSCL supplies coal to agro products, brick, ceramics, chemical, dairy, distilleries, glass, leather, cement and a host of other units.(1 INR = 0.0213220 USD). To red more 
Business-Standard (By-B Krishna Mohan)



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Thursday, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...


Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...


Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...


Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...


Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...


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