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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-$35 a tonne, which is lower than the market price.
Source: blonnet
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Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
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- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
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- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
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- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
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- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
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- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
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- White Energy Company Limited
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- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
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- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
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- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Australian Coal Association
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
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