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Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
 Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The board of state-owned miner Coal India Ltd (CIL) on Saturday approved a plan to acquire equity interest in 15-20 coal mines in Australia, Indonesia and the US. This could cost CIL up to $2 billion (Rs9,280 crore), according to chairman Partha S. Bhattacharyya.
CIL would develop some of these mines in partnership with firms such as US-based Peabody Energy Corp.—the world’s largest private sector coal miner—and Massey Energy Co.; others are operating mines in which CIL will buy small equity stakes in return for committed coal supplies.
“This is CIL’s first step towards achieving a global footprint… the benefits are going to be substantial,” Bhattacharyya said.
Through competitive bidding, which started in July, CIL had identified nine investment proposals. Its board decided that CIL will pursue the two best investment proposals each in Australia, Indonesia and the US.
The six investment proposals would give CIL access to some 15-20 mines, the due diligence on which would soon begin. “Within six months, we’ll start closing deals,” he said. “We are going to deal with highly credible partners. So the due diligence exercise should not take too long.”
“This is CIL’s first step towards achieving a global footprint… the benefits are going to be substantial”
- Chairman,
Coal India Ltd. |
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants. Coal supplies from these mines are expected to begin in fiscal 2011, Bhattacharyya said.
In fiscal 2009, CIL produced 404 million tonnes of coal, of which almost 300 million was sold to power plants. In the same year, India imported around 60 million tonnes of coal, of which 36-37 million tonnes was thermal coal.
“It’s a step in the right direction,” said Sumantra Banerjee, managing director of CESC Ltd, a Kolkata-based power utility. Key to the success of this arrangement is the freight cost of importing the coal. “Even if CIL secures high quality coal, the freight cost of importing coal from many countries—Australia and South Africa for instance—is prohibitive,” Banerjee added.
CIL expects to secure supplies at a substantial discount to international spot prices. Even if the landed cost of coal imported under this arrangement is $10 a tonne less than international spot prices, the country will save $500 million a year, assuming CIL imports on an average 50 million tonnes of coal a year, Bhattacharyya said, adding, “Some of this will, of course, translate into profits for CIL.” To read more Livemint
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Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
Saturday, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
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- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Anglo American - United Kingdom
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
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