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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, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays.
BDI INDEX
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Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme.
"With th ...
Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...
Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010
* Logistics woes hamper SAfrica exports, India imports
India's steam coal imports ar ...
Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
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- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
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