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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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Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
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- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- The University of Queensland
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
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