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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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Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
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- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
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