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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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Thursday, 23 July 09
COAL IMPORTS SURGE; EXPORTS DOWN IN H1
China Trade Information reported that, China’s coal imports surged by 126.3 percent year-on-year in the first half of 2009, reaching 48.3 mill ...
Thursday, 23 July 09
SRI LANKA CALLS FOR COAL SUPPLY BIDS
Daily Mirro reported that, In a move to install the country’s first coal power plant, Sri Lanka has invited bids to supply 2.4 million metric ...
Thursday, 23 July 09
POWER INVESTORS TURN BACKS ON VIETNAMESE COAL IMPORTERS
VietNamNet Bridge reported that, Investors of power plants always seek foreign coal sources to import themselves, believing they can come by it chea ...
Wednesday, 22 July 09
BERAU COAL DRAWS LOCAL, CHINESE BIDS - SOURCES
* Indonesian coal firm draws local, Chinese bids-sources
* Deal could value Berau at more than $1 billion-sources
Reuters reported that, China' ...
Wednesday, 22 July 09
ONE TENDERS FOR 114,000 MT FOR NOV-JAN
Moroccan state-owned power utility Office National de l’Electricité (ONE) has launched a tender for three handymax shipments of coal fo ...
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- India Bulls Power Limited - India
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- Mjunction Services Limited - India
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- Leighton Contractors Pty Ltd - Australia
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- Global Coal Blending Company Limited - Australia
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- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
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- Bhoruka Overseas - Indonesia
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- Bayan Resources Tbk. - Indonesia
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- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
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- McConnell Dowell - Australia
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- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Eastern Energy - Thailand
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- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
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- LBH Netherlands Bv - Netherlands
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- Salva Resources Pvt Ltd - India
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- Romanian Commodities Exchange
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- Ministry of Finance - Indonesia
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- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
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- Coal and Oil Company - UAE
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- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
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- Electricity Authority, New Zealand
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- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
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- Bhatia International Limited - India
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- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
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- Siam City Cement - Thailand
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- The University of Queensland
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- Therma Luzon, Inc, Philippines
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
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