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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-$35 a tonne, which is lower than the market price.
Source: blonnet
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Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
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 parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
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