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Wednesday, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reserve of 12-13 million tonnes of A- and B-grade high quality coal. The company was allowed to charge import-linked price for superior grade coal in October.
Eastern Coalfields Ltd, which has the country's largest reserve of 11 million tonnes of superior coal having highest energy value and low sulphur content, recently entered into MoUs with four West Bengal-based power producers to sell the underground production of 5 million tonnes of A- and B- grade coal at an import-linked price of Rs 3,500-3,700 (US$ 74.82 - 79.10) a tonne. The four power producers are CESC Ltd, West Bengal Power Development Corporation Ltd, Durgapur Projects Ltd and Damodar Valley Corporation.
The landed price to the producers will include 25 per cent cess and Rs 6 (US$ 0.12 ) a tonne of royalty collected by the West Bengal Government plus freight. Till the coal price hike in October, the notified price of A- and B- grade coal at pit head was Rs 1,700-1,800 (US$ 36.34 - 38.48) a tonne.
According to an industry source, the price of similar grade Australian coal (of over 6,000 Kcal/kg of gross calorific value) is approximately $65 a tonne on FOB basis. After inclusion of $25 a tonne of ocean freight cost, the landed price of similar imported coal is Rs 4,500 (US$ 96.17) a tonne at today's exchange rate.
“We are yet to devise a finer mechanism for charging import-linked price and have priced our underground production of superior coal at 15-16 per cent lower than the landed cost of imported coal.
However, we are charging the notified price (Rs 2,200-2,300 (US$ 47 - 49.15) a tonne) open cast production of A- and B-grade coal.
The weighted average of price of the coal on million Kcal basis works out to be approximately 50 per cent cheaper than the imported coal,” a CIL official said.
According to him, following introduction of import-linked price ECL's underground operations may break-even beginning this fiscal.
Apart from ECL, South Eastern Coalfields Ltd has small quantities of A- and B-grade coal reserves. However the company is yet to charge import-linked prices. (1 USD = 46.7942 INR)
Source: Business Line
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Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
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- Africa Commodities Group - South Africa
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- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
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- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
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- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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- PNOC Exploration Corporation - Philippines
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- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
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- Thiess Contractors Indonesia
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- New Zealand Coal & Carbon
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- Australian Commodity Traders Exchange
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- Indian Oil Corporation Limited
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- CNBM International Corporation - China
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- The University of Queensland
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
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- Formosa Plastics Group - Taiwan
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- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
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- SMC Global Power, Philippines
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- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
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- International Coal Ventures Pvt Ltd - India
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- Sindya Power Generating Company Private Ltd
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- Parry Sugars Refinery, India
- Economic Council, Georgia
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- Global Coal Blending Company Limited - Australia
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- Ministry of Transport, Egypt
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- Lanco Infratech Ltd - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
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- Timah Investasi Mineral - Indoneisa
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- Minerals Council of Australia
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- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
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- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
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- IEA Clean Coal Centre - UK
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- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
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- Malabar Cements Ltd - India
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- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
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- India Bulls Power Limited - India
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- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
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- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
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- Petron Corporation, Philippines
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- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
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- Sical Logistics Limited - India
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