We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 17 August 09
COAL INDIA PLANS A PRICE HIKE OF 11%
 With the state-run CIL mining 84% of the coal produced in the country, an 11% increase will push up inflation by around 0.16%, the company said
Live Mint reported that, In a move that may impress investors ahead of its maiden public sale of shares but add to the costs of cement, power and steel companies, India’s largest coal miner has proposed an 11% increase in coal prices.
State-run Coal India Ltd, or CIL, argues its price hike will have only a marginal impact on inflation.
The price increase will net CIL an additional revenue of Rs4,629 crore and boost profits ahead of a public offer in the stock market.
“We see a price correction shortly and there should not be a problem,” said Partha S. Bhattacharyya, chairman of CIL. The company posted a profit of Rs300 crore on a turnover of Rs46,000 crore last year.
The weightage of coal in the Wholesale Price Index, or WPI, is 1.753%.
With the state-run CIL mining 84% of the coal produced in the country, an 11% increase will push up inflation by around 0.16%, the company said.
On 7 August, Mint had reported on the Union government plan to shortly approve a CIL proposal to increase the price of coal, a move that will directly affect cement, power and steel companies.
CIL is a holding firm under the coal ministry that contributes 85% of India’s coal output and is free to fix the price at which it sells the fuel, but only after prior approval from the government. The last coal price revision was in December 2007 and the latest revision is expected to partly bridge the price gap with international coal, which is about one-third higher.
Shriprakash Jaiswal, minister of state (independent charge) in the ministry of coal, did not respond to repeated phone calls and a message to his cellphone.
Any increase in prices of coal, a key input for most sectors, will have a cascading effect.
It will increase the price for coal to the power sector by Rs77 per tonne, which will work out to around 5 paise per unit of power generated; for the cement sector, the impact will be around Rs20 per tonne which will work out to around 80 paise on a 40kg bag, said Bhattacharyya.
Overall annual inflation, as measured by WPI, is still contracting and was -1.74% on 1 August. There is, however, a fear that inflation may bounce back later in the year, especially since food price inflation continues to be firm — the pressure will only worsen with the country declaring drought in 171 districts in the middle of its most important crop season, kharif.
The National Council of Applied Economic Research in its monthly report on 12 August said that the possibility of the inflation rate rising in the current fiscal cannot be ruled out.
“Rise in prices of basic raw material may have multiplier effect on inflation, apart from direct impact on the indices, which in recessionary time, may have adverse impact on the economy,” said Dipesh Dipu, principal consultant (mining) with audit and consulting firm PricewaterhouseCoopers.
Crisil Ltd principal economist D.K. Joshi said: “The coal price increase will have an impact on energy-intensive industries. However, I do not see it as a major problem on inflation for the next couple of months. Going ahead, it will add to the cost of raw materials.”
CIL believes that the price hike will help CIL partly offset the increase in input costs, such as a higher wage bill on account of the Sixth Pay Commission, and thereby show a healthier balance sheet ahead of its proposed listing on bourses.
“That’s (listing) the idea. In declining profitability, who will invest? This will help us with our proposed listing,” said Bhattacharyya.
Indian coal (with a calorific value of 3,500 kilocalorie per kg) is priced at around $38 (Rs1,835) per tonne, around 30-40% lower than international prices.
India has 256 billion tonnes of coal reserves, of which around 455 million tonnes (mt) per annum is mined. CIL is targeting a production of 435 mt this year, against 403.73 mt achieved in 2008-09.
Demand for coal is expected to reach about two billion tonnes a year by 2031-32, about five times the current rate of extraction, with the maximum demand coming from the power sector.
Source:Live Mint
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
Saturday, 05 September 09
INDIA BUYING INTO AUSTRALIA'S COAL - INTERVIEW
India is in line to buy vast amounts of Australian coal. An Indian cabinet minister is on a special mission to Australia to help satisfy India's ur ...
Saturday, 05 September 09
52 COMPANIES SUBMIT EOIS TO COAL INDIA
The Hindu, India's largest English news paper reported that, International mining majors from the U.S., South Africa, Australia and Indonesia are a ...
Friday, 04 September 09
INDONESIA PAITON ENERGY BUYS COAL FROM ADARO, KIDECO
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk (ADRO.JK) and PT Kid ...
Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13
LiveMint reported ...
|
|
|
Showing 6451 to 6455 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- The University of Queensland
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
|
| |
| |
|
