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Wednesday, 07 October 09
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
 The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-run Coal India Ltd (CIL), the country’s largest coal mining firm, is looking to partner another state-owned company, Shipping Corp. of India Ltd (SCI), to form a joint venture to import coal to control costs as overseas purchases of the fuel are set to surge.
The venture is expected to be on the lines of the company that CIL has planned with Steel Authority of India Ltd (SAIL) for coal imports in which both firms plan to hold a 25% stake, with the remaining held by other strategic partners.
“We have held initial talks with the Shipping Corp. and its CMD (chairman and managing director) for a partnership” and will make it formal “when the time comes”, said Partha Bhattacharyya, CMD of CIL. “We will create a benchmark and if we need more capacity, we will involve the private sector as well.”
CIL is keen to acquire equity in overseas coal blocks to bridge the gap between demand and supply of the fuel in the domestic market, even as coal production in the country continues to decelerate.
“Supply chain integration for coal sourcing from foreign assets makes business sense in light of the historical peaks in coal prices and shipping charter rates,” said Dipesh Dipu, principal consultant (mining) with audit and consulting firm PricewaterhouseCoopers. “Now, when the markets have slumped, it may present an opportunity to build capacities in logistics that may complement Coal India’s efforts of acquiring and mining coal assets abroad,” he said.
The move will also protect the company against volatility in the international prices of coal. Currently CIL imports around 29 million tonnes per annum (mtpa) of thermal coal, which is slated to increase to 40 mtpa shortly.
The company is looking at opportunities in countries such as Mozambique, Bangladesh, Indonesia, South Africa and Australia.
“We have chosen Shipping Corporation as we both are public sector units,” Bhattacharyya said.
While an SCI spokesperson declined to comment, a director, who did not want to be identified, said, “If the CMD of Coal India and the CMD of SCI had talks on such a plan, it is yet to be converted into a proposal for the consideration of the board.”
India has 256 billion tonnes of coal reserves, of which around 455 mtpa are mined.
CIL is targeting a production of 435 mt this year, against 403.73 mt in 2008-09. The country expects imports to rise from 59 mt of coal now to around 100 mtpa by 2012.
Demand is expected to reach about two billion tonnes a year by 2031-32, around five times the current rate of extraction, with the maximum demand coming from the power sector.
“An alliance with the PSU (public sector unit) shipping major may mean access to market intelligence and expertise for Coal India, on the one hand, and may help SCI hedge risk of business cycles in international bulk trades, on the other,” said Dipu of PricewaterhouseCoopers.
Source: Live Mint
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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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- Star Paper Mills Limited - India
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- Semirara Mining Corp, Philippines
- The University of Queensland
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- The Treasury - Australian Government
- Indian Energy Exchange, India
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- Minerals Council of Australia
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- Trasteel International SA, Italy
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- Singapore Mercantile Exchange
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- Ministry of Finance - Indonesia
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- Africa Commodities Group - South Africa
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- Georgia Ports Authority, United States
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- Electricity Generating Authority of Thailand
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- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
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- Directorate Of Revenue Intelligence - India
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- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
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- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Australian Coal Association
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
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- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
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- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
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- Orica Mining Services - Indonesia
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- White Energy Company Limited
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- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
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- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
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- Mercuria Energy - Indonesia
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- Cement Manufacturers Association - India
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- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
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- Orica Australia Pty. Ltd.
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- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
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- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
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- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
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- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
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- Parliament of New Zealand
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
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