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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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Sunday, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
Friday, 15 January 10
GOVT BRINGS IN DOMESTIC COAL MARKET OBLIGATION
The Energy and Mineral Resources Ministry has issued a ministerial decree requiring producers of coal and other minerals to allocate a proportion ...
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- Power Finance Corporation Ltd., India
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- Directorate General of MIneral and Coal - Indonesia
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- Oldendorff Carriers - Singapore
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- Siam City Cement - Thailand
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- Commonwealth Bank - Australia
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- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
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- Siam City Cement PLC, Thailand
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- Bayan Resources Tbk. - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
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- Chamber of Mines of South Africa
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- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
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- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
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- Romanian Commodities Exchange
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- Sindya Power Generating Company Private Ltd
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- Indian Energy Exchange, India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Jorong Barutama Greston.PT - Indonesia
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- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- PTC India Limited - India
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- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
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- Wilmar Investment Holdings
- Indonesian Coal Mining Association
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- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Planning Commission, India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
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- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
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