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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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Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
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- The State Trading Corporation of India Ltd
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- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
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- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
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- India Bulls Power Limited - India
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- Australian Coal Association
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- Baramulti Group, Indonesia
- Parliament of New Zealand
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- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
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- Commonwealth Bank - Australia
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- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
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- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
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- Independent Power Producers Association of India
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- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
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- London Commodity Brokers - England
- Parry Sugars Refinery, India
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- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
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- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
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- Wilmar Investment Holdings
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- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
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- Dalmia Cement Bharat India
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- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
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- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
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- Renaissance Capital - South Africa
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- The University of Queensland
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
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- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
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- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
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- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
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- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
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