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Sunday, 21 June 09
MERCATOR TO BUY 3 BULK VESSELS
.jpg) Mercator Lines, India’s second-largest private shipping company, is expanding its capacity and is set to acquire three gearless post-Panamax bulk carriers totalling 277,000 dead-weight tonnage (DWT) on a charter basis.
Company sources said the investment would be around Rs 500 crore for this additional expansion of vessels. DWT refers to how much mass or weight of cargo that a ship can carry.
This development comes at a time when the shipping industry has been grappling with weak spot freight rates on a year-on-year basis in both dry and tanker segments.
For instance, in the tanker segment like Suezmax, freight rates are currently at $2,580 per day compared with $84,790 per day a year earlier, say senior industry officials. Mercator has attempted to offset this difficult operating environment by going in for long-term contracts with its key customers.
As with all its other dry bulk acquisitions, these additional vessels will also be under its Singapore-listed subsidiary Mercator Lines (Singapore). Out of the three vessels proposed to be acquired, two are from the New Yangzijiang Shipyard in China, which will remain with Mercator until 2014. The third vessel is from Sungdong Shipyard, South Korea and will be on a charter with Mercator until 2020. The existing capacity of the company’s dry bulk fleet is approximately 1.2 million DWT.
Mercator’s own fleet currently comprises 1.2 million with a combined capacity of 1.37 million DWT, 12 dry bulkers with a combined capacity of 898,000 DWT, four dredgers with a combined capacity of 31,854 cubic metres (CBM) and a 350 feet oil jack-up rig.
Mercator has diversified its revenue stream, including coal mining in Indonesia coupled with its dredgers which are on a long-term lease and its recent acquisition of oil rigs. A combination of long-term contracts and a diversified revenue stream helped Mercator Lines’ consolidated operating income , including that of its Singapore subsidiary, touch Rs 2,210.5 crore in FY09 compared with Rs 1,477 crore for FY08 translating to a 50% growth.
The profit after tax (PAT) stood at Rs 467 crore which was a 30% growth. It is estimated that Mercator generates nearly 45-50% of its revenues in FY09 from long-term contracts. Also, the company generated nearly 11.5% of its topline in FY09 from non-shipping activities.
Source:EconomicTimes(http://economictimes.indiatimes.com/News/News-By-Industry/Transportation/Shipping--Transport/Mercator-to-buy-3-bulk-vessels/articleshow/4642329.cms)
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Friday, 12 June 09
THERMAL COAL PRICE REMAINS STABLE IN SHANXI - STEEL GURU
It is reported that coming into June, no major changes are seen in coal supply-demand relations in Shanxi province. Statistics of Qinhuangdao port, ...
Thursday, 11 June 09
PT NALCO PLANS TO CONSTRUCT COAL-FIRED POWER PLANT IN SOUTH SUMATRA - ENERGY BUSINESS REVIEW
PT Nalco (National Aluminium Company Limited), an Indian-based company, plans to construct a coal-fired power plant in South Sumatra. The company in ...
Thursday, 11 June 09
COAL PRODUCERS TO SEE BOOST IN DEMAND FROM ASIA PACIFIC - JAKARTA POST
The Jakarta Post reported that, at the recent 15th Coaltrans conference in Bali, we noted concerns related to rising oil prices at a faster pace tha ...
Wednesday, 10 June 09
BHP TO CUT 450 JOBS AT INDONESIAN COAL PROJECT - REUTERS
Reuters reported that, BHP Billiton Ltd will lay off all 450 workers at its Indonesian coal project after deciding not to go ahead with the pr ...
Monday, 08 June 09
PTC INDIA TO ACQUIRE COAL MINES IN AUSTRALIA, INDONESIA - PTI NEWS
PTI reported that, State-owned Power Trading Corp today said it would acquire coal properties overseas and has identified mines in Australia and Ind ...
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- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
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- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
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- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
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- Indonesian Coal Mining Association
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- ICICI Bank Limited - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
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- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
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