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Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
 Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 crore (US$ 1,325,087,194) a year and helping the state-run firm meet rising costs at a time when output is stagnant in the face of inefficiency and environmental laws.
It has spared buyers in the power , fertiliser and defence sectors , which account for 80% of its sales, and raised prices for other buyers.
Price of premium grades of coal, A and B, has been linked to the international price and will now be offered at a 15% discount on the global spot prices. The benchmark price will be decided through a complex formula involving calorific value of the coal, as well as on the basis of Indonesian coal spot prices. Rest of the grade, C to F, will now be 30% dearer than the earlier notified price.
"The rise was inevitable since we have been severely affected by pollution norm introduced by the ministry of forest and environment. It is also expected to cover inflation, and rising wage and dearness allowance," chairman, Partha S Bhattacharyya said.
Earlier, CIL had said it would raise prices in July but the increase was necessary as growth in output has slowed down to 1-2% from 6% last year.
Coal India produces only about 20 million tones of grade A and B coal. Prior to the hike they were being offered at between 1,710 (US$ 37.76) and 2,370 (US$ 52.34) per tonne. If last week's international bench mark prices are taken, these two grades will now cost between 3,690 (US$ 81.50) per tonne and 4,100 (US$ 90.55) per tonne.
Grades C to F were available at prices ranging between 1,860 (US$ 41.08) and 480 (US$ 10.60) per tonne depending on the grades and the mines. These will now cost between 2,418 (US$ 53.40) per tonne and 624 (US$ 13.78) per tonne.
" Power, fertiliser and defense has been left out of the hike to reduce its effect of inflation. These three sectors consume around 80% of CIL's coal. The rest goes to non regulated sector, where the end price is not regulated by any sector," a CIL official said.
" Coal prices for grades A & B will now be reviewed after a year. However, we need to take periodic review of the prices of the rest of the categories," he added. (1 INR = 0.0220872 USD - www.xe.com)
Source: Economic Times
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Tuesday, 19 April 11
LONDON COMMODITY BROKERS OPENS JOHANNESBURG OFFICE
COALspot.com - London Commodity Brokers (LCB), a broking house specialising in bulk physical and Over-The-Counter commodities and options (coal ...
Tuesday, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
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- Economic Council, Georgia
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- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
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- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
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- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
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- Thiess Contractors Indonesia
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- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
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- Bulk Trading Sa - Switzerland
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- ICICI Bank Limited - India
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- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
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- Indian Energy Exchange, India
- Planning Commission, India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
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- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
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- Bangladesh Power Developement Board
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
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- Australian Coal Association
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- SMC Global Power, Philippines
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- MS Steel International - UAE
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
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- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
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- Bhoruka Overseas - Indonesia
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- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
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- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
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- London Commodity Brokers - England
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- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Trasteel International SA, Italy
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