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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, 06 January 10
SAS 2009 COAL EXPORTS THROUGH RBCT FLAT AT 61MT
Exports through South Africa’s Richards Bay Coal Terminal (RBCT) remained flat in 2009, as the terminal faced “critical business challen ...
Wednesday, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
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- New Zealand Coal & Carbon
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- McConnell Dowell - Australia
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- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
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- Global Coal Blending Company Limited - Australia
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- Power Finance Corporation Ltd., India
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- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
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- Mjunction Services Limited - India
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- Australian Commodity Traders Exchange
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- Indian Oil Corporation Limited
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- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
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- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
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- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
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- SMC Global Power, Philippines
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- International Coal Ventures Pvt Ltd - India
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- Africa Commodities Group - South Africa
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- Australian Coal Association
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- White Energy Company Limited
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- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
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- Jaiprakash Power Ventures ltd
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- Sindya Power Generating Company Private Ltd
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- Bulk Trading Sa - Switzerland
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- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
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- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
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- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
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