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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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Wednesday, 05 August 09
SMALLER DRY BULK CARRIERS TO FARE BETTER UNTIL THE END OF 2009 - SHIPPING
Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
Wednesday, 05 August 09
PEOPLE'S MINING SHOULD BE REGULATED UNDER RPP MINERBA
The Indonesian Institute of Science (LIPI) has called on the government to include a specific provision for people’s mining in the draft govern ...
Tuesday, 04 August 09
SRI LANKA IS LOOKING FOR 650,000 TON OF COAL NEXT YEAR FOR ITS FIRST 900 MW POWER PLANT.
COALspot.com ( Sri Lanka) : Lanka Coal Company Limited was issued a tender on 23 July 2009 to purchase 650,000 +/- 20% MT Bituminous Coal per a ...
Monday, 03 August 09
ONE YEAR CHARTER RATES FOR SUPRAMAX WAS AT AROUND USD 18,500 - VISTAAR SINGAPORE
COALspot.com (Singapore) : The freight market was flat this week with hardly any change in the BDI.The cape was up by about 4 pct and closed at 5,38 ...
Saturday, 01 August 09
APGENCO SAYS BOUGHT 500,000T MALAYSIAN COAL
The Malaysian Insider reported that, Indian state utility Andhra Pradesh Power Generation Corporation Ltd (Apgenco) has bought 500,000 tonnes of Mal ...
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- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
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- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
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- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
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