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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, 12 May 09
BANPU'S PROFIT DOUBLES TO RECORD AFTER SALES JUMP - BLOOMBERG
BANPU Pcl, Thailand’s biggest coal producer, reported first-quarter profit more than doubled to a record after higher prices for the fuel boos ...
Tuesday, 12 May 09
COAL IN PLACE, GMR PLANS 2,000-MW THERMAL PLANT - BUSINESS-STANDARD
GMR ENERGY, a subsidiary of Bangalore-based infrastructure company GMR Infrastructure Ltd, is planning to set up a 2,000-Mw thermal power plant near ...
Monday, 11 May 09
SOUTH AFRICA PROBLEMS SLOW INDIA COAL BUYING - MINE WEB
Indian imports of South African coal are likely to be close to 12 million tonnes in 2009, up from 10 million last year.
Indian coal buyers were a ...
Saturday, 09 May 09
THE WEEK SAW BIT OF HECTIC ACTIVITY IN THE FREIGHT MARKET - VISTAAR SHIPPING
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, one of the experienced ship operator in Singapore, said, the week saw bit of hectic ac ...
Saturday, 09 May 09
CHINA PLANS TO BUILD COAL STOCKPILE BASES IN SHANDONG - BLOOMBERG
China, the world’s largest coal producer and consumer, plans to build stockpiles of the fuel in the eastern province of Shandong to ensure sup ...
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- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
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- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
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- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
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- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
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- MS Steel International - UAE
- Ambuja Cements Ltd - India
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- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
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- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- The University of Queensland
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- Carbofer General Trading SA - India
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- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
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- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
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- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
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- Sojitz Corporation - Japan
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- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
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- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
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- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- Wilmar Investment Holdings
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- Alfred C Toepfer International GmbH - Germany
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- Standard Chartered Bank - UAE
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- Economic Council, Georgia
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- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
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- Samtan Co., Ltd - South Korea
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- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
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- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
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- White Energy Company Limited
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- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- CNBM International Corporation - China
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- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
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- PowerSource Philippines DevCo
- Trasteel International SA, Italy
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- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
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