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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, 17 July 09
THE NEW LAW OF MINERAL AND COAL MINING NO 4/2009 CREATE CONDUCIVE CLIMATE OF INVESTMENT IN INDONESIA
COALspot.com (Indonesia): The new Law of Mineral and Coal Mining No 4/2009, which replaces the old mining law No. 11/1967 has been signed by the Pre ...
Friday, 17 July 09
INDIA COAL TRADERS MUST OWN POWER, MINES - C&O BOSS
· Coal traders need to diversify to grow
· Coastal Energen to build first merchant power plant
· Tamil Nadu to see st ...
Friday, 17 July 09
CHINA SHENHUA ENERGY'S COAL OUTPUT SWELLS 17.6% IN H1
China Knowledge reported that, China Shenhua Energy Co Ltd, which is engaged in the coal mining, power generation and transportation businesses, on ...
Thursday, 16 July 09
CHINA ISSUES SECOND BATCH OF '09 EXPORT QUOTAS
China has issued 25 million tonnes of coal export quotas for the second batch this year, the National Development and Reform Commission said Wednesd ...
Thursday, 16 July 09
NTPC TO ENGAGE BANKERS TO ACQUIRE OVERSEAS COAL MINES
The Hindu reported that, State-run power generation company NTPC said it would appoint merchant bankers next month for acquiring coal mines identifi ...
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- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
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- Kalimantan Lumbung Energi - Indonesia
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- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
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- The State Trading Corporation of India Ltd
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- Grasim Industreis Ltd - India
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- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
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- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
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- Mjunction Services Limited - India
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- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
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- New Zealand Coal & Carbon
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- Trasteel International SA, Italy
- Commonwealth Bank - Australia
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- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
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- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
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- The Treasury - Australian Government
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
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- Bharathi Cement Corporation - India
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- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
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- ASAPP Information Group - India
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- Kobexindo Tractors - Indoneisa
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- White Energy Company Limited
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- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- The University of Queensland
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- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
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- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
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- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
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- Metalloyd Limited - United Kingdom
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