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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, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
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- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
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- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
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- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
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