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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, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
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- Directorate Of Revenue Intelligence - India
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- Commonwealth Bank - Australia
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- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
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- PTC India Limited - India
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- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
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- Australian Coal Association
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- Bangladesh Power Developement Board
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- Parry Sugars Refinery, India
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- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- The University of Queensland
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- Romanian Commodities Exchange
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- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
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- Economic Council, Georgia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
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- Directorate General of MIneral and Coal - Indonesia
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- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
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- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
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- CNBM International Corporation - China
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- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
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- Electricity Authority, New Zealand
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- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
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- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
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- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
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- Iligan Light & Power Inc, Philippines
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- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
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- Chamber of Mines of South Africa
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