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Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
 Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of them, who have responded to expression of interests (EoI) for strategic partnership with it. The idea is to import coal through this strategic partnership at a price which would be way cheaper than imported coal. In India, consumers either buy coal from the volatile spot market or through one-year contracts.
The coal major will primarily focus on either forming JV companies or collaborating with foreign entities who have coal assets in their respective home country. It is open to investing an aggregate of $1.5 billion in these ventures. CIL had invited expression of interests to form joint ventures or collaborate with mining companies from four countries – United States, Indonesia, Australia and South Africa.
Following his visit to meet interested parties in the US, Mr Partha S Bhattacharyya, chairman CIL said: "Central Mine Planning & Design Institute (CMPDIL) is examining each of these offers. They have made different offers and CMPDIL is examining them to come up with a format for presentation that needs to be made to CIL top bosses by December."
"We found that the companies in the US have not been experiencing much of a rise in production due to demand stagnation. However, they said, adequate investment and rise in demand in the form of orders from India could give them the boost to enhance production and take up additional investment in conjunction with CIL," said Mr Bhattacharyya.
Adding, he said: "We intend to work out the terms of the long term contract through strategic alliances which can be an effective way of importing coal faster and at cheaper prices."
On funding the proposed investments, Mr Bhattacharyya said: "CIL has total reserves of about $5-6 billion. It generates additional reserves of about Rs 3-4K crore (US$ 0. 643 - 0.857 billion) every year that can take care of the domestic investments for expansion and we would be open to investing anything between $1-5 billion for these ventures."
Back home, CIL registered a 9.9% rise to 184.44 million tonnes (167.8) in the first half of 2009-10. However, production from underground mines, which started showing a marginal rise, has declined once again albeit marginally by 0.31 mt to 20.78 mt. Coal offtake, on the other hand, rose 4.3% at 194.3 mt (186.22 mt) in the same period.
The company registered a decline in profit before tax 20% to Rs 3,600 crore (US$ 771,839,976.31 ) against Rs 4,484 crore (US$ 961,369,570.50) in the previous period. It is expecting a Rs 2,000 crore (US$ 428,799,986.84) additional outgo on account of wage revision and a Rs 1,400 crore (US$ 300,159,990.78) tax payout.
On forward E-auction, CIL top bosses said the first few e-auctions did not evince much interest from customers. About 16 lakh tonnes was offered but only about 2 lakh tonnes was picked up. "It seems that the mark-up on the notified price has not attracted adequate interest.
The base prices for e-auction were on cost of production basis subject to a maximum of 100% over notified price, since coal being offered were from underground mines that may have turned unviable if sold at notified prices. However, we need to reduce the base price to attract adequate bidders," he said. (US$ 1 = INR 46.641)
Source: Economic Times
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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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- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
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- Meralco Power Generation, Philippines
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- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Australian Coal Association
- Aditya Birla Group - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
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- SMG Consultants - Indonesia
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- Bhatia International Limited - India
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- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
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- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Independent Power Producers Association of India
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- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
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- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
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- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
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- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
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- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
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- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
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