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Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
 An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Scotland and Bank of Canada are the three merchant banks selected for helping the public sector Coal India Ltd (CIL) which is currently taking efforts to seal strategic partnership deals with coal companies in three countries — Australia, Indonesia and the U.S. — for augmenting India's coal supplies.
Stating this, a senior official at CIL said that quotations were invited for zone-wise participation by the investment bankers for helping in the global expressions of interest bids which were invited in July 2009 for selection of strategic partners for acquiring coal assets development and operating mines and resources abroad.
An investment of about $1.8 billion is expected to be made in these deals which may involve the world's single largest coal company, CIL, picking up shares in the overseas companies against assured supplies of coal, the official said. While Bank of America-Merill Lynch (and its Indian arm DSP Merill Lynch) will help with the Australian proposals, Bank of Canada will help conduct due diligence and evaluation of the proposals from the U.S. and Royal Bank of Scotland will help with Indonesia.
CIL had received 10 proposals from five companies in Australia, the U.S. and Indonesia. However, at present, only five proposals are being evaluated, as CIL has decided that, at the outset, only listed companies will be considered.
The proposal includes picking up equity and entering into offtake arrangements. Proposals were invited and received from South Africa, but they have not qualified for being considered in the first round, the official said.
One of the companies in the fray, Peabody Energy Corp. which has eight mines in Australia, said in a statement on Monday that it was in preliminary talks with Coal India regarding long-term coal supplies and other possible cooperative ventures.
This statement followed media reports in Australia that the company was in negotiations with CIL. Peabody said that the talks with Coal India involved a “broad range of preliminary discussions” and that there have been no agreements or decisions made regarding timing or structure. Peabody said it recognised long-term coal demand in India. The demand-supply gap in coal is projected to increase in India during the current Plan as facing obstacles it has not been possible to implement many projects. Consequently, production targets had to be lowered and it is now estimated that the gap would increase to about 80 million tonnes by 2012 instead of the 51 million tonnes projected earlier. As per the New Coal Distribution Policy, it is incumbent on CIL to meet the country's coal requirement, if needed through imports.
Source: The Hindu (By Indrani Dutta )
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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- Aditya Birla Group - India
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- Vedanta Resources Plc - India
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- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
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- India Bulls Power Limited - India
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- Indian Energy Exchange, India
- The University of Queensland
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- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- Australian Commodity Traders Exchange
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- McConnell Dowell - Australia
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- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Parliament of New Zealand
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Power Finance Corporation Ltd., India
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- Rashtriya Ispat Nigam Limited - India
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- Xindia Steels Limited - India
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- Global Coal Blending Company Limited - Australia
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- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
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- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
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- Goldman Sachs - Singapore
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
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- Indo Tambangraya Megah - Indonesia
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- Star Paper Mills Limited - India
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- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
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- Independent Power Producers Association of India
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- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
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- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
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- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
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- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
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- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
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- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
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- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
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