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Friday, 17 July 09
INDIA COAL TRADERS MUST OWN POWER, MINES - C&O BOSS
 · Coal traders need to diversify to grow
· Coastal Energen to build first merchant power plant
· Tamil Nadu to see strong power demand growth
INTERVIEW - by Reuters: Coal traders in India need to diversify into power generation and mining to succeed in an increasingly competitive business, Ahmed Buhari, founder president of Dubai-based traders Coal & Oil (C&O), said. C&O, which is seeking mines to buy, aims to gain an edge over competitors by building a coal-fired power plant in Tamil Nadu in southern India, Buhari said.
Its associate company Coastal Energen earlier this month finalised $800 million of financing, mostly from the State Bank of India, to build a 1,200 MW coal-fired plant at Tuticorin. The project is for a merchant power plant. These have no single sales contract for the term of the project debt and have to sell power as a commodity as well as via offtake agreements.
"This is the first power plant in India to get financing for a merchant plant model," Buhari told Reuters in an interview on Wednesday.
"Raising that level of financing for a merchant plant was not an easy thing to do in these times when credit is tough. But the banks were satisfied," he said.
"C&O will no longer be just a trader but an integrated and diverse energy supplier. That's our strategy. It's no longer enough to merely trade coal," Buhari said.
 C&O, founded by Buhari in 1998, is one of the key players in coal supply to the subcontinent. The company sells over 6 million tonnes of imported coal a year and has supply agreements with major producers in Indonesia, South Africa and Australia.
Privately-owned C&O's 2008 turnover was $500 million. India's coal imports have grown rapidly from almost nothing five years ago to a projected 70 million tonnes in the next fiscal year. Imports will continue to rise fast over the next 10-15 years because domestic supply cannot meet demand.
A few large traders dominate imports but competition is intensifying.
"The game is now changing in India," he said. "The state electricity boards, independent power producers, the big listed consumers, are looking for solid, stable suppliers of coal. Diversifying into generation strengthens our company and draws upon our years of expertise in fuel supply," he said.
Risks facing coal suppliers and consumers are much higher now, he said.
EASY ACCESS FOR INDONESIAN COAL
Tuticorin was an obvious site for a coal-fired plant designed to use low-quality Indonesian coal, Buhari said.
"At C&O we're all from Tamil Nadu. We're sons of the soil."
The plant's proximity to Tuticorin port makes it easy to bring in coal from Indonesia. There is easy access to the grid and a good choice of available land, he said.
India's two major areas of power growth are the Western states such as Punjab, Rajasthan, Maharashtra and Gujarat and in the South, Tamil Nadu, Kerala, Karnataka and Andhra Pradesh. Per capita power consumption in the south is low -- below that of China, he said, but with great potential to grow.
"Tamil Nadu is also the automotive hub of India. It's the Detroit of the South.
We have Hyundai, Ford, already there and many others are relocating to the south," he said. The information technology industry, steel, textiles and others also see the advantages of relocating there.
For example, Karnataka has large iron ore reserves, he said. Industrial growth in the region requires more power. At least 30,000 MW of generation capacity needs to be added in South India over the next five years, he said.
Coastal Energen has offtake agreements already. Tata Power will take most of the power, 25 percent will go to the state government, some to neighbouring states such as Kerala.
The plant can be expanded from 1,200 MW to 3,600-4,000 MW.
The company aims to sign "cap and collar" supply deals with Indonesian producers, he said. These set a minimum and maximum price, which offer some protection from price volatility.
Chinese boiler manufacturer Harbin Boiler Co Ltd will deliver the plant boilers within 22 months. Generation will start in three years.
Source: Reuters (Reporting by Jackie Cowhig, editing by Anthony Barker)
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Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
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- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Orica Australia Pty. Ltd.
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- Bhatia International Limited - India
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- White Energy Company Limited
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
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- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Planning Commission, India
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- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
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- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
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- OPG Power Generation Pvt Ltd - India
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- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- Petron Corporation, Philippines
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- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Minerals Council of Australia
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- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
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- Standard Chartered Bank - UAE
- CNBM International Corporation - China
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- GMR Energy Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
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- Economic Council, Georgia
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- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- The University of Queensland
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
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- Bangladesh Power Developement Board
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- Straits Asia Resources Limited - Singapore
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- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
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- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
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- Singapore Mercantile Exchange
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- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
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- Mercuria Energy - Indonesia
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- Price Waterhouse Coopers - Russia
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- Interocean Group of Companies - India
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- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- ASAPP Information Group - India
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- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
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- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
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