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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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Wednesday, 23 September 09
TATA POWER TO COMMISSION 2 UNITS OF MUNDRA UMPP BY FEB 2012
Business Standard reported that, the country's largest private power producer Tata Power today said it would commission 1,600 MW capacity of its 4, ...
Wednesday, 23 September 09
NAVA BHARAT TO ADD 300MW CAPACITY, RAISE RS1,386 CRORE (US$ 289,674,610)
The firm plans to place orders for equipment by the end of October and commission both the plants by April 2012 to sell power in the open market
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Tuesday, 22 September 09
ASIA COAL-PRICES TOPS $70 AS TRADERS SEEK BARGAINS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, rose for the second week to top $70 a tonne this week, clawi ...
Tuesday, 22 September 09
QINHUANGDAO COAL PRICES SURGE ON STRONG DEMAND
People's Daily Online reported that, Coal prices at Qinhuangdao port, China's largest coal port, witnessed the sharpest increase in the year last ...
Tuesday, 22 September 09
SHORT PERIOD RATE FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI just dropping by about 5 pct to 2,356 points last week. The change ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
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