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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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Monday, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
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- Wilmar Investment Holdings
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- McConnell Dowell - Australia
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- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
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- Parliament of New Zealand
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- Sojitz Corporation - Japan
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- New Zealand Coal & Carbon
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- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
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- Independent Power Producers Association of India
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- Central Electricity Authority - India
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- Directorate General of MIneral and Coal - Indonesia
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- Malabar Cements Ltd - India
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- Pendopo Energi Batubara - Indonesia
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- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
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- Thai Mozambique Logistica
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- Ministry of Finance - Indonesia
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- Alfred C Toepfer International GmbH - Germany
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- Wood Mackenzie - Singapore
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- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
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- San Jose City I Power Corp, Philippines
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- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
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- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
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- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
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- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
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- Ministry of Transport, Egypt
- Planning Commission, India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
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- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
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- Australian Coal Association
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- Goldman Sachs - Singapore
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- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
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