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