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Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC


Coal imports by state-run Coal India Ltd are likely to soar to 6-10 million tonnes in fiscal 2010/11 from an expected 1.5-1.7 million tonnes in the current fiscal year, D.C. Garg, chairman of the company's subsidiary Western Coalfields Ltd told Reuters.

The country's demand for coal is rising, particularly from the steel and the power sectors which are expanding capacity, but domestic coal output targets are being scaled down because of delays in several projects.

"Demand will come out strongly," Garg said.

“India's coal imports may rise to 50 million tons in 2011/12 from about 30 million tones as demand from steel plants is expected to rise” - D.C. Garg

On Tuesday, Coal India, the country's largest coal producer, said it would miss its output target for the financial year that ends on March 31, and would scale down its output target for 2011/12 due to delayed projects.

Garg said India's coal imports may rise to 50 million tonnes in 2011/12 from about 30 million tonnes as demand from steel plants is expected to rise in step with capacity expansion.

Coal shortages have hit India's power output and firms such as the National Aluminium Corp have faced precariously low stocks of the fuel.

India's power generation in December grew 5.45 percent, but would have grown 6.5 percent if adequate coal was available at plants of NTPC Ltd
Source: Reuters



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Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...


Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...


Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...


Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...


Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...


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