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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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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Central Electricity Authority - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Economic Council, Georgia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Planning Commission, India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
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