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, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...
Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy
After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...
Friday, 20 July 12
HANDYSIZES PROVE RATHER ATTRACTIVE AMONG OTHER SHIPS, IN TERMS OF FUTURE RETURNS ON INVESTMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Handysize segment of the dry bulk market appears to offer the best incentive among other ship types, for a ship owners to invest in, says Interm ...
Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...
Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
|
|
|
Showing 4651 to 4655 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Australian Coal Association
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
|
| |
| |
|
