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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and the hike could be effected “very soon” as discussions are underway with stakeholders.
Agrawal also said he is confident the mining behemoth would achieve its production target of 1 billion tonnes by 2025-26 (FY26).
“There is a strong case for increasing coal prices, as that has not happened in the past five-odd years. This year, the wage negotiation has taken place as well. This will have an impact on CIL’s financial condition, especially for a few subsidiaries like Eastern Coalfields, Western Coalfields, and Bharat Coking Coal where the cost of manpower is very high. There will be a lot of problems if prices are not hiked,” Agrawal said at the Indian Coal Markets Conference here organised by mjunction.
The last price hike by the state-owned miner was in January 2018 — it was a little over 10 per cent.
“It is such a critical thing for the economic development of the country that it cannot be increased unilaterally,” he, however, added.
Asked when a final decision was likely, B Veera Reddy, director (technical) and director (finance)-additional charge, CIL, said, “There are a lot of stakeholders and the power ministry… we need to reach a consensus. We are in discussions with the Ministry of Coal.”
Even as it weighs in on the possibility of a price hike, CIL is stepping up production.
This year, it is on course to achieve 700 million tonnes (mt).
The target for next year is being kept at 780 mt. The additional 80 mt for next year is a “stiff target”, but CIL is committed to meeting the requirements of the nation. By FY26, it will reach the 1-billion tonne production target.
But it will hinge on factors like the need of the country and the growth of the private sector, said Agrawal.
“If not 1 billion (tonne), I am hopeful that the requirement would be in that range because our coal is one of the cheapest in the world,” he added.
Captive/commercial coal mine
The country is eyeing increased production from mines auctioned for captive and commercial use. Joining the conference virtually, Coal Secretary Amrit Lal Meena said this year, the share of captive/commercial would be 15 per cent of total coal production of the country.
Last year, production was 89 mt. This year, it is likely to be 112 mt. “In the next two to three years, we are hopeful that commercial and captive mines will increase production,” said Meena.
The target for 2023-24 from captive/commercial is 161 mt.
He said the ministry is working on a strategy to enhance the production of coal, so that not just the power sector but all other sectors of the economy have adequate coal and possibly think about exports.
Source: Business Standard
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Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
Wednesday, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
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- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- ICICI Bank Limited - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
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