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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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Tuesday, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall
* Asia 2010 thermal coal imports expected to rise 6.3 pct
* China to become net im ...
Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments
* Panama Canal will allow smaller coal Capesize vessels
* Australia, Indonesia to remain bi ...
Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian ...
Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...
Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
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- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
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