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Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
 The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which majority of steel makers sign long-term agreement with suppliers, said senior executives of two large steel companies.
This, in turn, would increase the production cost and may adversely affect the bottom-line of steel producers unless they pass on the incremental cost to the consumers, said a senior executive of a leading steel maker.
There are couple of reasons for the price rise, said JSW Steel joint managing director Seshagiri Rao. “Due to economic crisis of 2008, many mines in Australia, which are dominant in coking coal, have shut down. This has resulted in sharp decline in supply of coking coal in comparison to early 2007,” he said. Domestic steel producers largely import coking coal from Australia.
In addition to the supply constraint, demand for coking coal from China, which was so far going slow on steel production, has again picked up, Rao said.
Due to the global economic slowdown, coking coal prices (long term and spot) had come down to less than half in April 2009 in comparison to the previous year. In April 2009, domestic steel makers had entered into long term agreement with overseas suppliers for coking coal at around $130 per tonne as against $300 per tonne in the previous year.
The spot price for the coking coal have come down to $180/tonne from a high of $400/tonne in April 2008. Spot prices of coking coal have, however, again started moving up.
As a result, steel producers such as Steel Authority of India (Sail), Tata Steel and JSW may land up signing long term agreements for coking coal at around $145-150 per tonne in April when these long term agreements will come for renewal.
“Indications show that there could be a marginal hike in long-term contracts’ prices for coking coal next year. The prices hike will also bridge the vast gap between long term and spot market prices,” said a senior SAIL executive. India’s largest steel maker Sail consumes 10 million tonne of coking coal every year and is largely dependant on Australia and the US for imports.
JSW Steel consumed 4.5 million tonne of coking coal this year and the requirement will further go up to 5 million tonne next year.
Source: Economic Times
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Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
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