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Wednesday, 30 December 09
COAL PRICE RISE REQUEST DENIED


A proposal by the Viet Nam National Coal and Mineral Industries Group to double the price of coal has been turned down by the Ministry of Industry and Trade.

Deputy Minister Do Huu Hao said the ministry did not agree with the price proposal and would try to come up with a reasonable scheme that would not choke other industries.

Vinacomin had previously suggested a formula to raise the coal price next year, which was 10 per cent less than the export price in accordance with a policy that would permit setting the price of coal at the market rate in 2010.

Under Vinacomin's calculations, the proposed prices would have been between 107 per cent and 249 per cent higher than the current level.

The proposal stirred up the market with a threat that the Viet Nam Electricity Corporation (EVN) would increase electricity prices by 17.1 per cent, as the electricity industry would have been sold the coal at the 249 per cent price increase. To read more VN Business News



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Recent News

Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...


Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...


Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...


Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...


Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...


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