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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 $500 million for acquiring the mines overseas due to unavailability of good quality coal in India. India is expected to produce 500 million tonne of coal this fiscal.
In addition, the coal imports in the current year is expected at close to 50 million tonne due to demand-supply mismatch. This has forced several power companies to look at supply arrangements in the overseas markets. 1 USD = 46.4257 INR
Source: Economic Times
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Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
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- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- The University of Queensland
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Australian Coal Association
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
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