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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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- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Bhatia International Limited - India
- PTC India Limited - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
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