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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 $200 a tonne, up by about 50 per cent from last year's level, steel firms are actively scouting to acquire such mines abroad and cut input costs.
Source:Press Trust of India / profit.ndtv
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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
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- The Treasury - Australian Government
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- Eastern Coal Council - USA
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- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
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- Oldendorff Carriers - Singapore
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- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
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- Georgia Ports Authority, United States
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- Asmin Koalindo Tuhup - Indonesia
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- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
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- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
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