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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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Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
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- Bhatia International Limited - India
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- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
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- White Energy Company Limited
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- Australian Coal Association
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- Therma Luzon, Inc, Philippines
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- Directorate General of MIneral and Coal - Indonesia
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- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
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- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
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- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
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- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
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- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
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- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
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- Eastern Energy - Thailand
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- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
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- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
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- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
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- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
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- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
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- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
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- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
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- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
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- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
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- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
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