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Wednesday, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
 Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reserve of 12-13 million tonnes of A- and B-grade high quality coal. The company was allowed to charge import-linked price for superior grade coal in October.
Eastern Coalfields Ltd, which has the country's largest reserve of 11 million tonnes of superior coal having highest energy value and low sulphur content, recently entered into MoUs with four West Bengal-based power producers to sell the underground production of 5 million tonnes of A- and B- grade coal at an import-linked price of Rs 3,500-3,700 (US$ 74.82 - 79.10) a tonne. The four power producers are CESC Ltd, West Bengal Power Development Corporation Ltd, Durgapur Projects Ltd and Damodar Valley Corporation.
The landed price to the producers will include 25 per cent cess and Rs 6 (US$ 0.12 ) a tonne of royalty collected by the West Bengal Government plus freight. Till the coal price hike in October, the notified price of A- and B- grade coal at pit head was Rs 1,700-1,800 (US$ 36.34 - 38.48) a tonne.
According to an industry source, the price of similar grade Australian coal (of over 6,000 Kcal/kg of gross calorific value) is approximately $65 a tonne on FOB basis. After inclusion of $25 a tonne of ocean freight cost, the landed price of similar imported coal is Rs 4,500 (US$ 96.17) a tonne at today's exchange rate.
“We are yet to devise a finer mechanism for charging import-linked price and have priced our underground production of superior coal at 15-16 per cent lower than the landed cost of imported coal.
However, we are charging the notified price (Rs 2,200-2,300 (US$ 47 - 49.15) a tonne) open cast production of A- and B-grade coal.
The weighted average of price of the coal on million Kcal basis works out to be approximately 50 per cent cheaper than the imported coal,” a CIL official said.
According to him, following introduction of import-linked price ECL's underground operations may break-even beginning this fiscal.
Apart from ECL, South Eastern Coalfields Ltd has small quantities of A- and B-grade coal reserves. However the company is yet to charge import-linked prices. (1 USD = 46.7942 INR)
Source: Business Line
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Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
Wednesday, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
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- Bhushan Steel Limited - India
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- International Coal Ventures Pvt Ltd - India
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- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
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- Ministry of Transport, Egypt
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- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
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- Posco Energy - South Korea
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- Energy Link Ltd, New Zealand
- Minerals Council of Australia
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- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
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- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
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- Petron Corporation, Philippines
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- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
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- GAC Shipping (India) Pvt Ltd
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- Australian Coal Association
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- CIMB Investment Bank - Malaysia
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- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
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- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
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- The Treasury - Australian Government
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- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
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- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
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- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
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- Indian Energy Exchange, India
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- White Energy Company Limited
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- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
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- Miang Besar Coal Terminal - Indonesia
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