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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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Monday, 01 June 09
LAHAT RELIES ON COAL FOR GROWTH
Lahat regency in South Sumatra spans 6,618.27 square kilometers, encompasses 19 districts and covers 528 subdistricts and villages. It is inhabited ...
Monday, 01 June 09
LANDED COST OF IMPORTED COAL HAS INCREASED BY 10 - 15% COMPARE TO EARLY THIS YEAR - PAKISTAN TRADERS
COALspot.com (Pakistan): Due to visiting non commercial vessels occupied commercial berths in Karachi port, coal carrying vessels were sufferi ...
Monday, 01 June 09
LAHAT RELIES ON COAL FOR GROWTH - THE JAKARTA POST
Lahat regency in South Sumatra spans 6,618.27 square kilometers, encompasses 19 districts and covers 528 subdistricts and villages. It is inhabited ...
Saturday, 30 May 09
THE CHINESE IMPORTS OF IRON ORE,COAL AND NICKEL ORE SEEMED TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore,said, the Baltic index rally continued this week ...
Saturday, 30 May 09
COAL INDIA SIGNS FUEL SUPPLY AGREEMENT WITH NTPC - SINDHTODAY
India’s largest coal miner Coal India Friday inked a much-awaited fuel supply agreement (FSA) with power generation major NTPC Ltd.
In the ...
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- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
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- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
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- Cement Manufacturers Association - India
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- Heidelberg Cement - Germany
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- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
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- Coal and Oil Company - UAE
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- CIMB Investment Bank - Malaysia
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- Mjunction Services Limited - India
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- Kideco Jaya Agung - Indonesia
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- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Minerals Council of Australia
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- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
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- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
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- Asmin Koalindo Tuhup - Indonesia
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- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
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- Tata Chemicals Ltd - India
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- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
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- SN Aboitiz Power Inc, Philippines
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- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
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- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
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- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Indian Energy Exchange, India
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- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
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- Thai Mozambique Logistica
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- Bhatia International Limited - India
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- MS Steel International - UAE
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
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- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
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- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
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- The University of Queensland
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- Merrill Lynch Commodities Europe
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