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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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Saturday, 09 January 10
THE FAR EAST MARKET STARTED TO STABILIZE - FEARNLEYS
Handy
The FEAST market started to stabilize after the quite holidays and we saw growing activity fed by Chinese coal and iron ore imports and Indi ...
Saturday, 09 January 10
IMPORTED, LOCAL COAL TO BE MIXED IN POWER DRIVE
The government is likely to create a pool price of coal, wherein imported coal and Indian coal could be mixed, making the imported coal becomes more ...
Friday, 08 January 10
SA COAL PRICES TO SPIKE ON RESUMED INDIA BUYING
South African coal prices are set for another price surge to over $100 a ton FOB as Indian and Chinese buyers compete for limited prompt supply, pro ...
Friday, 08 January 10
COLOMBIAN COAL STARTS TO MOVE TO CHINA - TRADERS
* Producer sells cape cargo Colombian coal to China
* Firm bids in freight market
* More shipments expected
Colombian coal is starting to move ...
Thursday, 07 January 10
PT. BUKIT ASAM TO BUILD NEW COAL LOADING TERMINAL AND COAL LOADER
COALspot.com (Indonesia): PT Bukit Asam (Persero) Tbk, Indonesia’s state owned coal mining company, is planning to build an additi ...
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- Oldendorff Carriers - Singapore
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- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- GMR Energy Limited - India
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- Sojitz Corporation - Japan
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- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
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- Thiess Contractors Indonesia
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- Indian Energy Exchange, India
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- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
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- Minerals Council of Australia
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- Directorate General of MIneral and Coal - Indonesia
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- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
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- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Australian Coal Association
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- Sindya Power Generating Company Private Ltd
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- Jaiprakash Power Ventures ltd
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- Indonesian Coal Mining Association
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- Ministry of Finance - Indonesia
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- Economic Council, Georgia
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- Energy Link Ltd, New Zealand
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- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
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- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
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- White Energy Company Limited
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- Commonwealth Bank - Australia
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- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
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- Cement Manufacturers Association - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
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- IEA Clean Coal Centre - UK
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- Orica Mining Services - Indonesia
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