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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, 25 August 09
INDIAN FIRM TO INVEST $44 MN IN INDONESIA
Economic Times - India Times reported that, BEML Limited, India-based second largest heavy equipment producer in Asia, will invest $44 million in In ...
Tuesday, 25 August 09
BHARAT LOOKS TO BULLDOZE RIVALS WITH LOWER PRICES
The Jakarta Globe reported that, The country’s two established heavy equipment suppliers now have a competitor in the form of Indian firm Bhar ...
Tuesday, 25 August 09
PIKE RIVER DELAYS COAL EXPORTS FROM NEW ZEALAND MINE
South African mining Weekly reported that, The first 60,000-t export shipment from ASX-listed Pike River Coal’s new mine has been delayed unti ...
Monday, 24 August 09
INDONESIAN GOVT ASKED TO CONTROL COAL TRADERS, BROKERS
The Jakarta Post, the leading English news paper in Indoneisa reported that, Businesses are urging the government to bring all coal traders and brok ...
Monday, 24 August 09
10,000 MW TO BE GENERATED THROUGH THAR COAL RESERVES BY 2020
Four projects of 2450 MW approved; govt to invest Rs80bn in five years on infrastructure
The News Pakistan reported that, The Thar Coal a ...
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- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
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- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
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- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
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- Orica Australia Pty. Ltd.
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- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
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- Central Electricity Authority - India
- The University of Queensland
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
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- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
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- Energy Link Ltd, New Zealand
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- Economic Council, Georgia
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- Georgia Ports Authority, United States
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- Antam Resourcindo - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
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- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
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- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
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- Wilmar Investment Holdings
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- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
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- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
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- AsiaOL BioFuels Corp., Philippines
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- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
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- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
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