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Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
 Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward revision of coal prices by government-owned Coal India Limited (CIL), which took place last week, is likely to have a divergent impact on the fossil fuel’s primary consumers such as cement, power and steel sectors. While cement makers’ margins will be under pressure, power producers will make a move to pass on the increased burden to consumers.The three sectors account for about 72 per cent of the total coal demand in the country.
On October 16, CIL increased the price of coal from Eastern Coalfields (ECL) and Bharat Coking Coal (BCCL) by 15 per cent, while all other subsidiary companies were permitted a hike of 10 per cent. This price increase is expected to swell CIL’s net profit by approximately Rs 2,000 crore this financial year and by about Rs 4,100 crore in the following year.
However, for the consuming sectors, especially the cement industry, the increase in coal prices will squeeze profit margins at a time when prices are already low due to rapid capacity augmentation.
Despite the fact that coal accounted for around two-thirds of the power and fuel cost, and 20 per cent of the total cost for cement manufacturers, firms would be unable to pass on the hike in coal prices to end users due to the current business environment, a report by Crisil Research suggested.
“The recent coal price hike will increase the cost of cement by Rs 3-4 a bag. However, this has been absorbed by manufacturers in the short-term. In the long run, though, if conditions are right, we could pass on the cost,” Cement Manufacturers Association President and Shree Cement Managing Director HM Bangur said. For the power sector, though, the impact of the upward revision of coal prices would be neutral, as the rise in cost of fuel would be passed on by the generators.
On an average, tariffs of power plants using domestic coal as fuel are expected to increase by 3-4 per cent. In rupee terms, the tariffs are expected to increase on an average by Rs 0.06 a unit. The rise is expected to increase the tariffs for final power consumers as the price hike will be passed on, the Crisil report further stated.
With the respective regulatory authorities of each state overseeing power tariffs, generators would first have to ascertain the increase in input costs and then approach the regulator for approval.
However, with the coal mixture of each generator differing, the choice being between CIL coal and that of the imported variety, it would take sometime before power utilities decide on the actual magnitude of the increase in tariff. “But 100 per cent, we will have to pass on the cost,” an official from the RPG’s power utility CESC said.
As for the steel industry, the Crisil report indicated that the coal price hike by CIL was not expected to have a significant impact on the steel industry as non-coking coal, which was primarily used by the sector, did not account for a significant portion of the total cost of steel manufacturing, except for steel made through the sponge iron route. Moreover, the dependence of domestic steel producers on CIL is only 25-35 per cent of their total requirement due to the availability of captive mines and imports. But Visa Steel Chairman and President of the Indian Chamber of Commerce Vishambhar Saran said the ex-pit head prices of CIL were already comparable to international prices, barring the freight factor cost. “The cost of setting-up a plant is higher if one is to use domestically available coal as compared to imported coal. This is because the former is of inferior quality and consequently extra costs such as ash disposal must be counted into the total project cost,” he added.
Source: Business-Standard
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Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
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- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
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