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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, 23 March 09
STRAITS TO SELL STAKE IN COAL ASSETS TO PTT -THEAUSTRALIAN.NEWS.COM
STRAITS Resources will sell a 60 per cent stake in its Indonesian coal assets to Thailand's PTT International Co. for $US335 million.
The transa ...
Monday, 23 March 09
BMA TAKES 60 PCT CUT IN JAPAN COKING COAL PRICE-CITI - REUTERS
BHP Billiton Mitsubishi Alliance (BMA), the world's top coking coal exporter, has agreed to accept a discount of around 60 percent for the steel-ma ...
Sunday, 22 March 09
SHENHUA ENERGY'S 2009 COAL PRODUCTION MAY GAIN 8% - BLOOMBERG
China Shenhua Energy Co., the nation’s biggest coal producer, may increase production of the energy fuel by about 8 percent this year, slower ...
Friday, 20 March 09
INDONESIA ORDERS TEMPORARY HALT AT BAYAN COAL MINE - REUTERS
Indonesia has ordered a coal mining unit of PT Bayan Resources to temporarily stop production for operating outside approved areas, a government off ...
Friday, 20 March 09
COKING-COAL PRICE STRUCK AT $115-$125, CITIGROUP SAYS - BLOOMBERG
BHP Billiton Ltd., the world’s largest miner, agreed with Nippon Steel Corp. to benchmark coking coal prices of $115 to $125 a metric ton, Cit ...
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- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
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- Parliament of New Zealand
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- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
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- PowerSource Philippines DevCo
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- Minerals Council of Australia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- The University of Queensland
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- Posco Energy - South Korea
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
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- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
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- Edison Trading Spa - Italy
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- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
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- Anglo American - United Kingdom
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- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
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- GAC Shipping (India) Pvt Ltd
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- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
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- Australian Coal Association
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- India Bulls Power Limited - India
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- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
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- Binh Thuan Hamico - Vietnam
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- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
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- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
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- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
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- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
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