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Thursday, 27 February 20
FOREIGN COMPANIES LIKELY TO SKIP COMMERCIAL COAL BLOCK AUCTIONS - ECONOMIC TIMES
The Centre is in the process of inviting global players for commercial mining, following 100% foreign direct investment in the sector. However, given the tremendous pressure, foreign companies are facing from financial institutions and environmental pressure groups, their participation in the commercial coal mining in India is doubtful.
Commercial coal block auctions are likely to receive a lukewarm response from foreign players as big companies are losing interest in a sector which has been widely seen as polluting and avoided by top banks and financial investors, experts said.
The Centre is in the process of inviting global players for commercial mining, following 100% foreign direct investment in the sector.
Mining major Rio Tinto sold off its last coal assets in Queensland, Australia in 2018, while BHP recently said it would exit coal if presented with opportunities. The company operates mines in Australia and Colombia.
Anglo American, a large British mining company, has decided to reduce coal production over the next two years. Australia’s largest miner Glencore said in a statement that it aims to limit coal output capacity broadly to current levels. Murray Energy Corporation (MEC), America’s largest underground coal mining company, has filed for bankruptcy.Partha Bhattacharyya, former chairman, Coal India, said large miners are facing pressure to quit coal and be more environment-friendly.
“Given the tremendous pressure they are facing from financial institutions and environmental pressure groups, their participation in the commercial coal mining in India is doubtful. Their investors would not want them to invest in new coal assets,” he said.
A senior Coal India executive said the company is finding it difficult to find bankers to assess foreign assets as they are shying away from the sector. “Early last year when Coal India invited global tenders, merchant bankers like Goldman Sachs and Merrill Lynch had already exited the dry fuel segment.”
Players like ANZ, BNP Paribas, JP Morgan joined this list later during the year,” the executive said.
Bhattacharyya said foreign companies would also find it difficult to find bankers they need for due diligence of blocks they may bid for.
An industry executive said the fall in storage cost of renewable energy puts a cloud on the future of thermal coal. “All these may indicate that fresh thermal coal based power generation may also be unviable in the near future, prompting foreign players to stay away.”
By the end of 2019, some 112 global financial institutions holding more than $10 billion worth of assets under management had already exited coal. Global insurers divested roughly $8.9 trillion of coal-based investments. Most of them now refuse to insure new coal mines and power plants.
Source: The Economic Times
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Thursday, 05 March 20
SEABORNE COAL'S STRUGGLES IN ASIA ARE MORE THAN JUST CHINA CORONAVIRUS - REUTERS
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
Thursday, 05 March 20
INDONESIA'S BUKIT ASAM 2019 OUTPUT RISES 10.2% Y/Y - REUTERS
PT Bukit Asam, Indonesia’s state-owned coal miner, said on Wednesday its output in 2019 rose 10.2% to 29.1 million tonnes.
Coa ...
Thursday, 05 March 20
SEEING REMOTELY - IN SAFETY: BUREAU VERITAS PERFORMS FIRST SURVEY BY DRONE - BUREAU VERITAS
Bureau Veritas Marine & Offshore (BV), a world leader in testing, inspection and certification (TIC) services has completed its first survey by ...
Wednesday, 04 March 20
AN EPIDEMIC OF UNCERTAINTY - THE CORONAVIRUS AND FORCE MAJEURE - WFW
KNOWLEDGE TO ELEVATE
Do the effects of the coronavirus give rise to legitimate force majeure claims in connection with shipbuilding contracts ...
Wednesday, 04 March 20
CHINA IMPORTED 76.8 MLN TONNES OF CRUDE OIL FOR JANUARY & FEBRUARY 2020; UP 3.4% YOY - REFINITIV | BC
The COVID-19 crisis has been gripping China already for almost two months now. It’s having a huge negative impact on the economy, and this is ...
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- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
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