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Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
 WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices to mitigate the impact of wage hikes, which hurt its profit for the last financial year to the extent of 83 billion rupees ($1.74 billion).
"We have reported a sharp drop in earnings and that is because of a pay revision for workers and officers," Partha Bhattacharyya told reporters on the sidelines of a coal conference.
"We need to improve. That can be done by a modest increase in coal prices."
Coal India, which accounts for more than 80% of India's total coal production, last raised prices in August 2007, by 10%.
Although coal prices in India were deregulated completely in January 2000, the price is fixed by state-run companies under the guidance of the coal ministry.
However, India's coal minister, Sriprakash Jaiswal, said the federal government wasn't considering a coal price hike.
"There is a need for higher coal prices due to wage hikes. But currently the government isn't considering a hike," he told reporters, adding the possibility of a price hike later can't be ruled out.
India's federal government plans to sell a 10% stake in Coal India. Mr. Bhattacharyya said Coal India's profit will be hit by 40 billion rupees in the current financial year due to the wage hike.
Coal India expects coal production to rise 7.7% in the current fiscal to 435 million metric tons. The company, which has been posting an average annual production growth of 5%, may have to increase production by 8.5%-9% to meet India's growing demand, Mr. Bhattacharyya said.
India's coal demand this year is estimated at 604.33 million tons, while domestic production is estimated at 534.33 million tons, leaving a gap of 70 million tons which needs to be met through imports.
India is facing a coal shortage as its power generation is increasing 7.5% annually while coal production is rising only 5%, Central Electricity Authority Chairman Rakesh Nath said in a separate conference Friday.
He expects thermal power coal imports to widen to 40 million tons by the fiscal ending March 31, 2012 from 28.7 million tons in the current year, due to the growing mismatch between local supply and demand.
"Coal shortages will continue due to the demand-supply gap," he said.
Source: WSJ
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Wednesday, 05 August 09
PEOPLE'S MINING SHOULD BE REGULATED UNDER RPP MINERBA
The Indonesian Institute of Science (LIPI) has called on the government to include a specific provision for people’s mining in the draft govern ...
Tuesday, 04 August 09
SRI LANKA IS LOOKING FOR 650,000 TON OF COAL NEXT YEAR FOR ITS FIRST 900 MW POWER PLANT.
COALspot.com ( Sri Lanka) : Lanka Coal Company Limited was issued a tender on 23 July 2009 to purchase 650,000 +/- 20% MT Bituminous Coal per a ...
Monday, 03 August 09
ONE YEAR CHARTER RATES FOR SUPRAMAX WAS AT AROUND USD 18,500 - VISTAAR SINGAPORE
COALspot.com (Singapore) : The freight market was flat this week with hardly any change in the BDI.The cape was up by about 4 pct and closed at 5,38 ...
Saturday, 01 August 09
APGENCO SAYS BOUGHT 500,000T MALAYSIAN COAL
The Malaysian Insider reported that, Indian state utility Andhra Pradesh Power Generation Corporation Ltd (Apgenco) has bought 500,000 tonnes of Mal ...
Thursday, 30 July 09
KOMIPO OFFERED 3 MILLION MT IN TENDER, TEN TIMES OVERSUBSCRIBED
Korea Midland has received offers for 3 million mt of bituminous steam coal in its latest tender despite the power utility seeking only 300,000 mt, ...
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- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
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- Gujarat Mineral Development Corp Ltd - India
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- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
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- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
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- Barasentosa Lestari - Indonesia
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- Mintek Dendrill Indonesia
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- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
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- Power Finance Corporation Ltd., India
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- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
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- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
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- Price Waterhouse Coopers - Russia
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- Merrill Lynch Commodities Europe
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- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
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- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
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- Electricity Authority, New Zealand
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- Therma Luzon, Inc, Philippines
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- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
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- Eastern Energy - Thailand
- New Zealand Coal & Carbon
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- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
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- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
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- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
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- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
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- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
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- Billiton Holdings Pty Ltd - Australia
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- MS Steel International - UAE
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
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- Jaiprakash Power Ventures ltd
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- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
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- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
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- Indian Oil Corporation Limited
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
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