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Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
 Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 crore (US$ 1,325,087,194) a year and helping the state-run firm meet rising costs at a time when output is stagnant in the face of inefficiency and environmental laws.
It has spared buyers in the power , fertiliser and defence sectors , which account for 80% of its sales, and raised prices for other buyers.
Price of premium grades of coal, A and B, has been linked to the international price and will now be offered at a 15% discount on the global spot prices. The benchmark price will be decided through a complex formula involving calorific value of the coal, as well as on the basis of Indonesian coal spot prices. Rest of the grade, C to F, will now be 30% dearer than the earlier notified price.
"The rise was inevitable since we have been severely affected by pollution norm introduced by the ministry of forest and environment. It is also expected to cover inflation, and rising wage and dearness allowance," chairman, Partha S Bhattacharyya said.
Earlier, CIL had said it would raise prices in July but the increase was necessary as growth in output has slowed down to 1-2% from 6% last year.
Coal India produces only about 20 million tones of grade A and B coal. Prior to the hike they were being offered at between 1,710 (US$ 37.76) and 2,370 (US$ 52.34) per tonne. If last week's international bench mark prices are taken, these two grades will now cost between 3,690 (US$ 81.50) per tonne and 4,100 (US$ 90.55) per tonne.
Grades C to F were available at prices ranging between 1,860 (US$ 41.08) and 480 (US$ 10.60) per tonne depending on the grades and the mines. These will now cost between 2,418 (US$ 53.40) per tonne and 624 (US$ 13.78) per tonne.
" Power, fertiliser and defense has been left out of the hike to reduce its effect of inflation. These three sectors consume around 80% of CIL's coal. The rest goes to non regulated sector, where the end price is not regulated by any sector," a CIL official said.
" Coal prices for grades A & B will now be reviewed after a year. However, we need to take periodic review of the prices of the rest of the categories," he added. (1 INR = 0.0220872 USD - www.xe.com)
Source: Economic Times
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Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Bangladesh Power Developement Board
- Planning Commission, India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
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