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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, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
Wednesday, 07 December 22
MARKET INSIGHT - INTERMODAL
China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if t ...
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- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- The University of Queensland
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
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- Indonesian Coal Mining Association
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- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
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- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
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