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Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
 It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd but has yet to nominate the local entity which will partner the Indian state-run firm for prospecting and subsequent mining, the Cabinet was informed earlier this month.
According to government sources, CIL has to form a joint venture with a local partner who will be identified by that country's government for the concessions, identified as A1 and A2. CIL and its local partner will later have to shed 15% equity in the joint venture in favour of the Mozambique government, which cannot be brought down below 10%. Mozambique has also asked CIL to open an office in the national capital Maputo and train manpower.
For Block A1, CIL will make a refundable deposit of $2.1 million and pay $950,000 during the first five years of exploration phase and $15.25 million after five years during the mining phase. For Block A2, CIL will make a refundable deposit of $620,000, $330,000 in the exploration phase and over $5 million after five years.
CIL had won the blocks against nine other bidders. While one bid each from the UK and China were disqualified, there were three bids each from Portugal and Mozambique besides four from India. Block A1 covers an area of 109 sq km and Block A2 115 million. From preliminary studies, CIL reckons about 20% of the deposits to be coking coal and the remaining is expected to be good for using as fuel in power plants.
CIL is aiming to ensure a committed volume of around 20-30 million tonnes of coal from overseas which will be equal to about 50 million tonnes of domestic production. CIL has a cash pile of $6-7 billion. Since it can fund its future domestic expansion from internal accruals, it wants to use part of this reserve in getting equity in overseas mines.
CIL is also processing a plan for firming strategic partnerships with global majors and has shortlisted 12 firms, including Peabody of the US and Indonesia's Bumi. Some eight companies have made their presentations earlier this month. Four more are to make their proposals shortly.
One of the models that CIL is looking at could be that Coal India takes 10-15% equity in a producing mine or upto 25% in expanded capacity of an existing mine. In return, it will get captive right on a certain quantity of production. For CIL, such a partnership will ensure long-term volumes to bridge domestic supply gap and help it to cushion against price volatility.
The company had to import 59 million tonnes of coal when prices were at their peak of $60-65 per tonne of thermal coal. It will also help the company to achieve capacity targets quickly as expansion in India is hampered by the fact that most coal-bearing areas are inhabited and entail massive relief and rehabilitation of population.
Source: The Times of India
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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.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- VISA Power Limited - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- The University of Queensland
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
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