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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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Tuesday, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
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- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
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- Energy Development Corp, Philippines
- White Energy Company Limited
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- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
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- Indian Oil Corporation Limited
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- Banpu Public Company Limited - Thailand
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- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
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- Minerals Council of Australia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
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- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- The University of Queensland
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
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- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
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- International Coal Ventures Pvt Ltd - India
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- Economic Council, Georgia
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- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
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- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
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- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
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- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
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- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
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- VISA Power Limited - India
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- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
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- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
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- Global Coal Blending Company Limited - Australia
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- Singapore Mercantile Exchange
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- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
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- Thai Mozambique Logistica
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- Standard Chartered Bank - UAE
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- McConnell Dowell - Australia
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- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
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- Romanian Commodities Exchange
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- Attock Cement Pakistan Limited
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- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
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- Orica Australia Pty. Ltd.
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