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.
|
|
Tuesday, 11 August 09
ZAMBIAN COAL BUYERS CONTINUE IMPORTING COAL FROM ZIMBABWE
Lusaka Times reported that, Coal mining companies have bemoaned the lack of market for their produce as prospective buyers continue importing the co ...
Monday, 10 August 09
NOMINAL HIKE IN COAL PRICES SOON - MEDIA
The hindu business reported that, a marginal hike in coal prices is in the offing. "I will be soon approaching the Prime Minister on the matter ...
Monday, 10 August 09
MANGALAM CEMENT PLACES ORDER FOR CAPTIVE POWER PLANT
Steel Guru reported that, Mangalam Cement Ltd has announced that the company on August 6th 2009 finalized order for Captive Thermal Power Plant of 1 ...
Monday, 10 August 09
VIET NAM COAL EXPORTS HIT 13.5 MILLION TONNES
VietNamNet Bridge reported that, Viet Nam exported more than 13.5 million tonnes of coal in the first seven months of this year, equal to the same p ...
Monday, 10 August 09
S.KOREA KOSPO ISSUES SPOT, TERM COAL TENDERS
Korea Southern Power Co Ltd (KOSPO) is seeking 1.5 million tonnes of steam coal per year for delivery from October 2009 through September 2012 via a ...
|
|
|
Showing 6516 to 6520 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
|
| |
| |
|
