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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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Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
Thursday, 17 December 09
THE 6TH CLEAN ENERGY FORUM - CLEAN COAL 2010
COALspot.com (China) - Press Release: The 6th Clean Energy Forum--Clean Coal 2010 January 27-29, 2010 Renaissance Tianjin Teda Hotel And Conven ...
Thursday, 17 December 09
JFE STEEL INVESTS $555 MILLION IN AUSTRALIA COAL MINE
JFE Steel Corp., Japan’s second- largest producer, will invest 50 billion yen ($555 million) in a coal mine in Queensland, Australia, includin ...
Thursday, 17 December 09
CHINA, INDIA DEMAND MAY BOOST THERMAL COAL PRICE, JPMORGAN SAYS
Demand for thermal coal from China and India may boost prices of the fuel to $80 a metric ton next year amid reduced supplies and lower inventories, ...
Thursday, 17 December 09
RBCT PROBLEMS TO CAUSE STEAM COAL PRICE SPIKE IN Q1
Bugs in the new computer system at South Africa's Richards Bay Coal Terminal and persistent rail problems will make it impossible for exporters to ...
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- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
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- Meralco Power Generation, Philippines
- Minerals Council of Australia
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- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
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- London Commodity Brokers - England
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- Trasteel International SA, Italy
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- Coal and Oil Company - UAE
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
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- Oldendorff Carriers - Singapore
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- Parliament of New Zealand
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- Banpu Public Company Limited - Thailand
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- Essar Steel Hazira Ltd - India
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- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
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- Tamil Nadu electricity Board
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- New Zealand Coal & Carbon
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- Intertek Mineral Services - Indonesia
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- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
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- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
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- White Energy Company Limited
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- The Treasury - Australian Government
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- Australian Commodity Traders Exchange
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- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
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- Independent Power Producers Association of India
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- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
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- Alfred C Toepfer International GmbH - Germany
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- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
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- Orica Mining Services - Indonesia
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- CIMB Investment Bank - Malaysia
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- Indonesian Coal Mining Association
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- Pipit Mutiara Jaya. PT, Indonesia
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- Electricity Authority, New Zealand
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- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
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- Planning Commission, India
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