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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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- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Central Java Power - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
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