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Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offshore schemes, Russia's top auditing body said.
A report published on the Audit Chamber website said up to 80 percent of Russian coal exports were going through offshore firms at prices often 30 percent to 54 percent below market rates.
"As a result substantial funds raised from coal sales are accumulated on offshore firms' accounts while Russia's budget is losing a substantial part of tax revenues," the auditing chamber said in a statement.
The investigation follows criticism by Russian Prime Minister Vladimir Putin of the export policies of major Russian coal firms last year.
Putin attacked coking coal producer Mechel for its pricing policies, causing a sharp sell-off of the New York-listed stock.
Russia produced 326 million tonnes of coal last year and exported just over 100 million tonnes with Mechel, SUEK, KuzbassRazrezUgol and Raspadskaya (RASP.MM) being among top producers and exporters.
Source: Reuters
(http://www.reuters.com/article/marketsNews/idUSL757937520090707)
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Friday, 26 June 09
BAYAN TARGETS GROSS PROFIT TO RISE BY 86.2 PERCENT
Local coal producer publicly listed PT Bayan Resources is targeting this year's gross profit to rise by 86.2 percent on the back of higher sales vo ...
Thursday, 25 June 09
INDIA'S ULTRATECH BUYS 500,000T S.AFRICA COAL
Indian cement maker Ultratech has bought 10 handymax cargoes of South African coal at $73.00-$74.00 a tonne CIF for July-September delivery, Indian ...
Wednesday, 24 June 09
NTPC BURNS MORE COAL TO PRODUCE ELECTRICITY
A tonne of coal is the same as another tonne of coal, you might think.
But power major NTPC Ltd is finding that this year’s coal is not yie ...
Wednesday, 24 June 09
NTPC, COAL INDIA TO BUY MINING ASSETS OVERSEAS
State-owned utility National Thermal Power Corporation (NTPC) and the largest coal producer Coal India are in advanced stages of acquiring mining as ...
Tuesday, 23 June 09
NEWCASTLE WEEKLY COAL EXPORTS DECREASE 15%; SHIP QUEUE RISES
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 15 percent last week while the numb ...
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- Bangladesh Power Developement Board
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
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