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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and the hike could be effected “very soon” as discussions are underway with stakeholders.
Agrawal also said he is confident the mining behemoth would achieve its production target of 1 billion tonnes by 2025-26 (FY26).
“There is a strong case for increasing coal prices, as that has not happened in the past five-odd years. This year, the wage negotiation has taken place as well. This will have an impact on CIL’s financial condition, especially for a few subsidiaries like Eastern Coalfields, Western Coalfields, and Bharat Coking Coal where the cost of manpower is very high. There will be a lot of problems if prices are not hiked,” Agrawal said at the Indian Coal Markets Conference here organised by mjunction.
The last price hike by the state-owned miner was in January 2018 — it was a little over 10 per cent.
“It is such a critical thing for the economic development of the country that it cannot be increased unilaterally,” he, however, added.
Asked when a final decision was likely, B Veera Reddy, director (technical) and director (finance)-additional charge, CIL, said, “There are a lot of stakeholders and the power ministry… we need to reach a consensus. We are in discussions with the Ministry of Coal.”
Even as it weighs in on the possibility of a price hike, CIL is stepping up production.
This year, it is on course to achieve 700 million tonnes (mt).
The target for next year is being kept at 780 mt. The additional 80 mt for next year is a “stiff target”, but CIL is committed to meeting the requirements of the nation. By FY26, it will reach the 1-billion tonne production target.
But it will hinge on factors like the need of the country and the growth of the private sector, said Agrawal.
“If not 1 billion (tonne), I am hopeful that the requirement would be in that range because our coal is one of the cheapest in the world,” he added.
Captive/commercial coal mine
The country is eyeing increased production from mines auctioned for captive and commercial use. Joining the conference virtually, Coal Secretary Amrit Lal Meena said this year, the share of captive/commercial would be 15 per cent of total coal production of the country.
Last year, production was 89 mt. This year, it is likely to be 112 mt. “In the next two to three years, we are hopeful that commercial and captive mines will increase production,” said Meena.
The target for 2023-24 from captive/commercial is 161 mt.
He said the ministry is working on a strategy to enhance the production of coal, so that not just the power sector but all other sectors of the economy have adequate coal and possibly think about exports.
Source: Business Standard
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Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
Sunday, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
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- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
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- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Australian Coal Association
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
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- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- White Energy Company Limited
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- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
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- Ministry of Transport, Egypt
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- India Bulls Power Limited - India
- Indonesian Coal Mining Association
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- Banpu Public Company Limited - Thailand
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- PTC India Limited - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
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- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
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- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
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- Minerals Council of Australia
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- Wilmar Investment Holdings
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- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
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- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
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- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
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