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Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
 Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
Now coal miners are beginning to move to pick up stakes in power plants for better returns on the raw material they produce.
Minerals Energy Commodities (MEC), a 50:50 joint venture between Indian industrial minerals producer Trimex Group and the UAE Government-owned RAK Minerals and Metals, which is setting up a coal project in Indonesia, is close to firming up deals with private mega-power projects in India involving swapping coal for equity.
MEC has been talking with some of the major players in the power sector, including Tata Power, JSW Energy and Reliance Power, to push through its business model involving trading of coal in exchange for equity in the power projects.
“There has been a very encouraging response from the power projects in India. We will be concluding such coal-equity swap deals with three major power projects that are in the construction phase. We hope to make an announcement in the next couple of months,” Mr Madhu Koneru, Executive Vice-Chairman of MEC Holdings, told Business Line.
While most major players in the power sector such as Tata Power, JSW and Reliance, are in the process of acquiring coal assets abroad, this will be the first time they will sell equity in exchange for coal.
“This is a win-win situation for both. While we will get better returns on the coal we produce if we have equity in power projects, and power producers can benefit from assured raw material supplies,” Mr Koneru said.
Indonesia project
MEC is setting up a 30-million-tonne coal mining project in Indonesia at a cost of $2 billion, which is expected to start production from 2012.
The joint venture company has decided to earmark half of this production to supply to power projects in India through the equity-coal swap deal, with the rest to be sold in the open market.
“The 15 mt of coal will be sufficient to feed power plants with a total capacity of 4-5,000 MW. We will thus be signing this deal with three power projects with capacity of over 1,000 MW each,” he said.
The deals had taken some time for finalisation as MEC had to do elaborate due diligence to finalise the quantum of equity to compensate for the quantum of coal to be supplied.
What actually yielded encouraging response from the power players is that MEC is willing to supply the coal at production rates, ranging from $30-$35 a tonne, which is lower than the market price.
Source: blonnet
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Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
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- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- The University of Queensland
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