Coal news and updates

Shree Cement looks to procure 0.3 mt of imported pet coke

May 16: Shree Cement Ltd, a major player in northern India, is planning to procure around 300,000 tons of imported petroleum coke (fuel grade) for loading in July, August and September, a source told ICMW.

"The company is looking for 100,000 tons of imported pet coke loading in each of the months between July and September," the source added.

The company had not purchased imported pet coke in the past few months and was relying heavily on domestic pet coke from Reliance Industries Ltd and US steam coal.

However, it could not reach an agreement with RIL for supplies because of pricing issues and is now believed to be looking for imported pet coke, the source said.

The company recently finalised a deal to procure around 500,000 tons of high-sulphur US steam coal and the last two vessels are expected to be loaded towards end-May and June respectively.

Once the delivery of US steam coal is received, the company plans to take delivery of imported pet coke from August.