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Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
 A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm in India. The report alleges widespread corruption in coal block allocation and is perceived as potentially damaging for the already scam-tainted Manmohan Singh-led United Progressive Alliance (UPA) government.
According to the CAG, the underpriced sale and free allocation of coal blocks for captive mining may have cost the government as much as US$33 bill in lost revenue. At the heart of the debate is the 1993 policy which broke the government’s monopoly as a coal supplier and allowed private companies to mine coal for captive use, in a bid to increase coal production to meet burgeoning demand.
However, the decision resulted in a number of non-coal consuming industries approaching state governments and signing letters of intent promising to develop coal consuming plants if they were allocated coal mines. Coal blocks were allocated to private companies as well as state mining companies who were ill-equipped to run a power plant as well as a coal mine. Prime Minister Singh was in charge of the Ministry of Coal (MoC) from 2006 to 2009 when some of the controversial allocations took place.
A number of companies developed coal blocks, but the vast majority have been content to sit on the asset and wait until the government opened up the coal market to allow private captive coal miners to sell coal into the domestic market place. Of the 218 coal blocks that have been awarded to date, only 29 are currently in production. Many of these companies blame delays in environmental clearances and land acquisition issues for their inability to commence operations.
'Coalgate' Implications
Recently, the Ministry of Coal has started de-allocating coal blocks from miners who have not sufficiently developed their assets. As per the latest available data, 24 coal blocks have been de-allocated, including those from private companies including Binani Cement, Bhatia International Ltd and Lloyds Metal & Engineers Ltd. The threat of further de-allocation of mines by the MoC, as political fallout from the ongoing scandal, is expected to induce other mine owners to be more proactive with project development. There are significant financial implications for companies who have secured financing and have begun to develop plants dependent on captive coal blocks. Opposition from the business community is fervent as many coal-consuming plants are ready or partly ready, financing has been secured and industrial equipment has been ordered. If coal blocks are de-allocated, billions of dollars loaned to finance these projects would come under threat.
It is imperative for India to secure energy for its growing economy. It is facing severe shortages of domestic coal supply and ‘Coalgate’ will now join India’s ultra-mega power project (UMPP) policy as a shining example of failed energy policy. Salva does not believe that captive mining will grow to 653 Mt by 2020, as forecast by India’s Planning Commission.
Developments in captive coal production have the ability to widely swing India’s imported coal demand, particularly for thermal coal. The political and commercial implications of India’s ‘Coalgate’ scandal and captive mine development are worth keeping an eye on as India’s Central Bureau of Investigation initiates the due process of law against some of these companies. The repercussions will affect not just India, but possibly world coal markets.
Source:Salva
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Tuesday, 14 August 12
UNCERTAIN FUTURE FOR DRY BULK PANAMAX SHIPS - DREWRY / HELLENIC SHIPPING
The dry bulk shipping market is in a poor state, with the Capesize segment the worst of all. Unfortunately, the latest analysis from Drewry Maritime ...
Monday, 13 August 12
5TH VIETNAM PORTS AND LOGISTICS 2012
Press Release - Co-hosted by VINAMARINE, the 5th Vietnam Ports and Logistics2012 will feature dedicated sessions on port and transport infrastructur ...
Monday, 13 August 12
ACTIVE DRY BULK FLEET INCREASES BY 8% SO FAR IN 2012 IN TERMS OF TONNAGE CAPACITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s no wonder that the dry bulk market has been tethering since the start of the year. the overflow of tonnage has been so enormous, that eve ...
Sunday, 12 August 12
COAL FREIGHT RATES FALL FLAT TO SOFT ON OVERSUPPLY, WEAK DEMAND - VISTAAR SINGAPROE
COALspot.com - The BDI continued its fall 10th August.
This week all segments were down including BDI down by 9.15 pct closing at 774 points .The ...
Saturday, 11 August 12
INDONESIAN COAL REFERENCE PRICE HAS LOST 27.78 PERCENT YOY
COALspot.com - Indonesian HBA fell again in August.
The monthly coal reference price for coal sales this month fell 3.32 percent. HBA fell ...
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Showing 4616 to 4620 news of total 6871 |
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
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