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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, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
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- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
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- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
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- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
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- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
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