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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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Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
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- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Parliament of New Zealand
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
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