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Saturday, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
 The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on coking coal to enable larger import by power and steel sectors.
According to a coal ministry official, while the steel sector’s demand for coking coal is expected to go up by another 18-20% in 2010-11, Coal India Ltd (CIL), which currently meets 82% of the power sector’s thermal coal demand, will not be able to keep pace with the power sector’s incremental need because of hurdles in developing new mining projects. So the ministry wants to encourage the power sector to go for larger imports, the official said.
The ministry has asked CIL to give its opinion on the issue after which it will put forward its proposal to the finance ministry but CIL has not given any comments so far, the official said.
According to sources, the Australian government has requested the coal ministry to lobby for reducing the import duty on thermal coal and persist with the zero import duty on coking coal, since it (the Australian government) foresees an opportunity to supply more coal to India from Australia.
| “Australia has its share only in India’s coking coal space, Indonesia commands the thermal coal space” |
An Australian trade commission delegation, which recently came to India, presented a paper to the coal ministry saying reducing the import duty of thermal coal and keeping the zero import duty on coking coal intact would not only strengthen bilateral ties but would also enhance the availability of affordable inputs for two Indian infrastructure industry-power and steel.
The trade commission pointed out that coking coal import, which was 12 million tonne in 2006-07 from Australia, would touch 18-20 mt in 2010-2011 and 25 mt by 2012, taking into account India’s steel capacity addition.
While Australia has its share only in India’s coking coal space, Indonesia commands the thermal coal space. Australia wants to make an entry into the thermal coal space, since imports of thermal coal are likely to go up, the ministry official said. The ministry estimated that import of coking and thermal coal together would be around 62.75mt by the end of 2009-2010, of which thermal coal would be around 40 mt. In 2008-09, India’s total thermal coal imports were 37.92 mt and coking coal 21.08 mt. However, CIL, the country’s largest producer of coal, had no plans to import any coal in 2009-10 but the Planning Commission has asked it to import 4mt of thermal coal in 2010- 2011 for NTPC.
CIL is yet to take a decision on the planning commission’s order. CIL chairman Partha S Bhattacharyya said CIL required an undertaking from NTPC that it would lift the entire 4 mt, which CIL will import. Both the parties are yet to arrive at a consensus on the issue.
Source: Financial Express
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Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
Wednesday, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
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- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
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- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
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- Power Finance Corporation Ltd., India
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- Economic Council, Georgia
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- Singapore Mercantile Exchange
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- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
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- London Commodity Brokers - England
- The Treasury - Australian Government
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- White Energy Company Limited
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- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
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- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
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- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
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- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
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- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
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- Bangladesh Power Developement Board
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- GVK Power & Infra Limited - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
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- Indo Tambangraya Megah - Indonesia
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- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
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- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
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- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
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- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
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- Ministry of Transport, Egypt
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- Metalloyd Limited - United Kingdom
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- Lanco Infratech Ltd - India
- Planning Commission, India
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- New Zealand Coal & Carbon
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- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
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