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