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Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
 Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
Now coal miners are beginning to move to pick up stakes in power plants for better returns on the raw material they produce.
Minerals Energy Commodities (MEC), a 50:50 joint venture between Indian industrial minerals producer Trimex Group and the UAE Government-owned RAK Minerals and Metals, which is setting up a coal project in Indonesia, is close to firming up deals with private mega-power projects in India involving swapping coal for equity.
MEC has been talking with some of the major players in the power sector, including Tata Power, JSW Energy and Reliance Power, to push through its business model involving trading of coal in exchange for equity in the power projects.
“There has been a very encouraging response from the power projects in India. We will be concluding such coal-equity swap deals with three major power projects that are in the construction phase. We hope to make an announcement in the next couple of months,” Mr Madhu Koneru, Executive Vice-Chairman of MEC Holdings, told Business Line.
While most major players in the power sector such as Tata Power, JSW and Reliance, are in the process of acquiring coal assets abroad, this will be the first time they will sell equity in exchange for coal.
“This is a win-win situation for both. While we will get better returns on the coal we produce if we have equity in power projects, and power producers can benefit from assured raw material supplies,” Mr Koneru said.
Indonesia project
MEC is setting up a 30-million-tonne coal mining project in Indonesia at a cost of $2 billion, which is expected to start production from 2012.
The joint venture company has decided to earmark half of this production to supply to power projects in India through the equity-coal swap deal, with the rest to be sold in the open market.
“The 15 mt of coal will be sufficient to feed power plants with a total capacity of 4-5,000 MW. We will thus be signing this deal with three power projects with capacity of over 1,000 MW each,” he said.
The deals had taken some time for finalisation as MEC had to do elaborate due diligence to finalise the quantum of equity to compensate for the quantum of coal to be supplied.
What actually yielded encouraging response from the power players is that MEC is willing to supply the coal at production rates, ranging from $30-$35 a tonne, which is lower than the market price.
Source: blonnet
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Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
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- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- The University of Queensland
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
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