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Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
 JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a top company executive said. Although the deal size could not be ascertained, a person privy to the development said it could be around Rs 300 crore (US$ 64,619,397). JSW Energy, which is in the process of raising fund through a public issue to expand power generation capacity, is currently sourcing thermal coal from JSW Steel under a purchase agreement.
Sajjan Jindal-led JSW Steel had acquired 200 million tonne Mozambique block through its affiliate JSW Natural Resources Mozambique a few years ago hoping to extract coking coal to feed its steel plant at Vijayanagar, Karnataka. But, the initial exploration and drilling activities undertaken by the company in Mozambique has revealed that the block has thermal coal reserves instead. While thermal coal is used in power generation, coking coal goes into steel-making.
“Fortunately or unfortunately, around 80% of the coal is in the form of thermal coal at Mozambique. We will probably get it valued and sell to JSW Energy. The balance 20% of the coking coal will be used by our steel plants,” JSW group managing director Sajjan Jindal said. JSW Steel will soon appoint consultants to get exact valuation of the Mozambique mine, said another person familiar with the development.
The transfer of thermal coal mine will help JSW Energy meet raw material requirement of its existing and proposed power plants. It plans to raise generation capacity from 995 mw currently to 3,140 mw by 2010. Its maiden public issue to raise Rs 2,700 crore will open on December 7 and close on December 9.
“JSW Energy plans to import 5 million tonne of coal in 2010-11 as the power firm looks to expand generating capacity. The company will import 2 million tonne of coal each from South Africa and Indonesia, besides 1 million tonne from Australia,” Mr Jindal said.
Both JSW Steel and JSW Energy are scouting for coal mines in Australia, Indonesia and South Africa to feed raw material requirements of their steel and power businesses, respectively. JSW Steel had earlier said it has earmarked investments of $500 million for acquiring the mines overseas due to unavailability of good quality coal in India. India is expected to produce 500 million tonne of coal this fiscal.
In addition, the coal imports in the current year is expected at close to 50 million tonne due to demand-supply mismatch. This has forced several power companies to look at supply arrangements in the overseas markets. 1 USD = 46.4257 INR
Source: Economic Times
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Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
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- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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