We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
 A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm in India. The report alleges widespread corruption in coal block allocation and is perceived as potentially damaging for the already scam-tainted Manmohan Singh-led United Progressive Alliance (UPA) government.
According to the CAG, the underpriced sale and free allocation of coal blocks for captive mining may have cost the government as much as US$33 bill in lost revenue. At the heart of the debate is the 1993 policy which broke the government’s monopoly as a coal supplier and allowed private companies to mine coal for captive use, in a bid to increase coal production to meet burgeoning demand.
However, the decision resulted in a number of non-coal consuming industries approaching state governments and signing letters of intent promising to develop coal consuming plants if they were allocated coal mines. Coal blocks were allocated to private companies as well as state mining companies who were ill-equipped to run a power plant as well as a coal mine. Prime Minister Singh was in charge of the Ministry of Coal (MoC) from 2006 to 2009 when some of the controversial allocations took place.
A number of companies developed coal blocks, but the vast majority have been content to sit on the asset and wait until the government opened up the coal market to allow private captive coal miners to sell coal into the domestic market place. Of the 218 coal blocks that have been awarded to date, only 29 are currently in production. Many of these companies blame delays in environmental clearances and land acquisition issues for their inability to commence operations.
'Coalgate' Implications
Recently, the Ministry of Coal has started de-allocating coal blocks from miners who have not sufficiently developed their assets. As per the latest available data, 24 coal blocks have been de-allocated, including those from private companies including Binani Cement, Bhatia International Ltd and Lloyds Metal & Engineers Ltd. The threat of further de-allocation of mines by the MoC, as political fallout from the ongoing scandal, is expected to induce other mine owners to be more proactive with project development. There are significant financial implications for companies who have secured financing and have begun to develop plants dependent on captive coal blocks. Opposition from the business community is fervent as many coal-consuming plants are ready or partly ready, financing has been secured and industrial equipment has been ordered. If coal blocks are de-allocated, billions of dollars loaned to finance these projects would come under threat.
It is imperative for India to secure energy for its growing economy. It is facing severe shortages of domestic coal supply and ‘Coalgate’ will now join India’s ultra-mega power project (UMPP) policy as a shining example of failed energy policy. Salva does not believe that captive mining will grow to 653 Mt by 2020, as forecast by India’s Planning Commission.
Developments in captive coal production have the ability to widely swing India’s imported coal demand, particularly for thermal coal. The political and commercial implications of India’s ‘Coalgate’ scandal and captive mine development are worth keeping an eye on as India’s Central Bureau of Investigation initiates the due process of law against some of these companies. The repercussions will affect not just India, but possibly world coal markets.
Source:Salva
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
|
|
|
Showing 4586 to 4590 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Australian Coal Association
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Planning Commission, India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
|
| |
| |
|
