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Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
 WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices to mitigate the impact of wage hikes, which hurt its profit for the last financial year to the extent of 83 billion rupees ($1.74 billion).
"We have reported a sharp drop in earnings and that is because of a pay revision for workers and officers," Partha Bhattacharyya told reporters on the sidelines of a coal conference.
"We need to improve. That can be done by a modest increase in coal prices."
Coal India, which accounts for more than 80% of India's total coal production, last raised prices in August 2007, by 10%.
Although coal prices in India were deregulated completely in January 2000, the price is fixed by state-run companies under the guidance of the coal ministry.
However, India's coal minister, Sriprakash Jaiswal, said the federal government wasn't considering a coal price hike.
"There is a need for higher coal prices due to wage hikes. But currently the government isn't considering a hike," he told reporters, adding the possibility of a price hike later can't be ruled out.
India's federal government plans to sell a 10% stake in Coal India. Mr. Bhattacharyya said Coal India's profit will be hit by 40 billion rupees in the current financial year due to the wage hike.
Coal India expects coal production to rise 7.7% in the current fiscal to 435 million metric tons. The company, which has been posting an average annual production growth of 5%, may have to increase production by 8.5%-9% to meet India's growing demand, Mr. Bhattacharyya said.
India's coal demand this year is estimated at 604.33 million tons, while domestic production is estimated at 534.33 million tons, leaving a gap of 70 million tons which needs to be met through imports.
India is facing a coal shortage as its power generation is increasing 7.5% annually while coal production is rising only 5%, Central Electricity Authority Chairman Rakesh Nath said in a separate conference Friday.
He expects thermal power coal imports to widen to 40 million tons by the fiscal ending March 31, 2012 from 28.7 million tons in the current year, due to the growing mismatch between local supply and demand.
"Coal shortages will continue due to the demand-supply gap," he said.
Source: WSJ
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Friday, 07 August 09
COAL-PRICE FORECAST RAISED AT MERRILL ON CHINA, INDIA DEMAND
Bloomberg reported that, Bank of America Corp.’s Merrill Lynch & Co. unit increased its price forecast for Asian power-station coal becaus ...
Friday, 07 August 09
CHINESE DEMAND FOR FOREIGN COAL SOARS
Mining Weekly reported that, Chinese coal imports rocketed by 126,3%, year-on-year, in the first half of this year, the country’s customs auth ...
Thursday, 06 August 09
RICHARDS BAY COAL SHIPMENTS FELL 3% ON YEAR IN JULY
Bloomberg reported that, Richards Bay Coal Terminal, Africa’s largest coal-export facility, exported 3 percent less of the fuel in July than i ...
Thursday, 06 August 09
NTPC LOOKS TO BYPASS STATE TRADING FIRMS ON COAL IMPORT
A reduced coal import bill for NTPC could lead to lower power tariffs
Live mint.com reported that, India’s largest power generation utility ...
Thursday, 06 August 09
CHINA JULY COAL IMPORTS AT 9.5 MLN T, DEMAND FIRM
* Coal imports at key ports in July 2.8 times year-ago levels
* July coal imports down nearly 40 percent from June
* China still buying overseas c ...
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- Siam City Cement PLC, Thailand
- Australian Coal Association
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- Altura Mining Limited, Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
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- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
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- GAC Shipping (India) Pvt Ltd
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- Romanian Commodities Exchange
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- SMC Global Power, Philippines
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- Eastern Energy - Thailand
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- India Bulls Power Limited - India
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- Globalindo Alam Lestari - Indonesia
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- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
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- The University of Queensland
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- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
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- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
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- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
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- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
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- Standard Chartered Bank - UAE
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- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
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- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
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- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
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- Medco Energi Mining Internasional
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- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Goldman Sachs - Singapore
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- VISA Power Limited - India
- Lanco Infratech Ltd - India
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- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
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- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Planning Commission, India
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