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Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to partially meet the rising raw material need of its steel business.
"Following the board approval to acquire certain coking coal mining concessions in USA on May 3, 2010, the company completed the acquisition," the company said in filing to the Bombay Stock Exchange.
"...It is planned to produce 1 million tonnes of coal in the first year starting from September 2010 which will go up to three million tonnes in the third year of operation," it added.
Moreover, the company said it is actively looking at acquisitions of coal mines to feed its rising steel production capacity.
The acquired coal assets with resources of 123 million tonnes are located in West Virginia in the US. These mines are owned by a string of US-based companies.
"While the total coking coal requirement of the company is estimated at 5 million tonnes per annum at the current capacity (about 6 million tonnes) the proposed coking coal from US will give integration to the extent of 20 per cent in the first year and goes up further at enhanced capacity of 11 million tonnes to 35 per cent," it said.
"The integration will benefit the company immensely even after factoring the higher freight from USA to India," it added.
The company currently has an installed production capacity of a little over six million tonnes in Vijaynagar in Karnataka and is working to add another three million tones to it. It also operates a one million tonne per annum plant in Salem.
With coking coal rates hovering around $200 a tonne, up by about 50 per cent from last year's level, steel firms are actively scouting to acquire such mines abroad and cut input costs.
Source:Press Trust of India / profit.ndtv
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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
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