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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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Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
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- Global Coal Blending Company Limited - Australia
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- Renaissance Capital - South Africa
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- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
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- Mercator Lines Limited - India
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- Vedanta Resources Plc - India
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- The State Trading Corporation of India Ltd
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- Minerals Council of Australia
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- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
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- SMC Global Power, Philippines
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- GMR Energy Limited - India
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- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
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- London Commodity Brokers - England
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- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
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- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
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- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
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- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
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- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
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- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
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- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
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