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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, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
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- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
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- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
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- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
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- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Romanian Commodities Exchange
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- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
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- The State Trading Corporation of India Ltd
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- Chamber of Mines of South Africa
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- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
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- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
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- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- White Energy Company Limited
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- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
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- European Bulk Services B.V. - Netherlands
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- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
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- Merrill Lynch Commodities Europe
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- Wood Mackenzie - Singapore
- The University of Queensland
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- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
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- Videocon Industries ltd - India
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- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
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- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
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- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
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- India Bulls Power Limited - India
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- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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