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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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- Planning Commission, India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
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