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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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Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
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- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
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- Singapore Mercantile Exchange
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- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
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- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
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- Coalindo Energy - Indonesia
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- Ceylon Electricity Board - Sri Lanka
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- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
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- Africa Commodities Group - South Africa
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- The State Trading Corporation of India Ltd
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- Goldman Sachs - Singapore
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- Economic Council, Georgia
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- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
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- PNOC Exploration Corporation - Philippines
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- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
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- Parliament of New Zealand
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- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
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- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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- GMR Energy Limited - India
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- Georgia Ports Authority, United States
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- Merrill Lynch Commodities Europe
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- Sarangani Energy Corporation, Philippines
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- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
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- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
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- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
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- Antam Resourcindo - Indonesia
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- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
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- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
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