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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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Sunday, 23 February 20
SHIPPING INDUSTRY FACES $370 MILLION HIT FROM NEW PANAMA CANAL CHARGE - REUTERS
A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up ...
Sunday, 23 February 20
A 57,000DWT SHIP FIXING DELIVERY SOUTH KALIMANTAN TRIP, REDELIVERY CJK, AT $7,600 - BALTIC BRIEFING
Capesize
The Capesize market found little to cheer about this week as it again endured remarkable lows. The Atlantic continued to improve, with ...
Saturday, 22 February 20
THE SURPRISING MOVE IN MARINE FUEL SPREADS - ING
Middle distillates tank
One of the biggest surprises since the implementation of new International Maritime Organization (IMO) sulphur regulati ...
Friday, 21 February 20
CAPE: AVERAGE NOMINAL DAILY EARNINGS STILL ADMITTEDLY UNCHANGED W-O-W AT BELOW US$3000 - FEARNLEYS
CAPE
The worst may just about be over for the big ships. Average nominal daily earnings still admittedly unchanged w-o-w at below US$3k, but sent ...
Friday, 21 February 20
INDIA: POTENTIAL INVESTORS SEEK MORE CLARITY ON COMMERCIAL COAL MINING NORMS - FINANCIAL EXPRESS
Potential private investors have sought more clarity on the pricing mechanism proposed for the much-anticipated auction for commercial coal mining. ...
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- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Aditya Birla Group - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
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