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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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Friday, 25 November 22
APAC THERMAL COAL PRICES CORRECT FROM RECORD HIGH - FITCH RATINGS
Prices of Newcastle 6,000kcal/kg coal have corrected following falling European gas and coal prices, and more supply from Australia could help miti ...
Thursday, 24 November 22
VIETNAM BOOSTS COAL USE PLAN FOR 2030 AS G7 CLIMATE OFFER STALLS - REUTERS
Vietnam has increased its coal power target for 2030 under a revised draft energy plan, government documents seen by Reuters show, while renewables ...
Tuesday, 22 November 22
THE GENCON 2022 CHARTERPARTY - GARD
KNOWLEDGE TO ELEVATE
BIMCO has published a revamped version of the popular GENCON charterparty. Our author, Helena Biggs, was a member of the ...
Tuesday, 22 November 22
INDIA POWER BINGES ON COAL, OUTPACES ASIA - REUTERS
India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine ...
Friday, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
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- Lanco Infratech Ltd - India
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- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
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- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
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- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
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- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
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- Bangladesh Power Developement Board
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- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
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- Siam City Cement PLC, Thailand
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- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Thai Mozambique Logistica
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