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Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
 Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite attractive.
The Hindu Business Online reported that, 11 The large-size power projects announced by various Indian companies seem to have prompted a standalone Indonesian coal miner to come knocking on their doors.
Middle East Coal (MEC), a joint venture between Trimex Group and the UAE Government-owned RAK Minerals and Metals Investment, has initiated talks with these players to swap equity for coal. The company assures coal supply at $35-$40 a tonne for 15 years. Currently, coal prices are around $50-$55 a tonne.
MEC is developing a coal mine at East Kalimantan in Indonesia with proven reserves of two billion tonnes at an investment of $1 billion.
Mr Madhu Koneru, Executive Vice-Chairman, MEC, said production would begin with two million tonnes by the middle of next year and would be ramped up to 15 million tonnes by November 2011.
“We have floated a tender of $1 billion to develop a coal jetty and rail link of 130 km to transport the coal from the mine. With such huge investments, we thought of forward integration by joining hands with the promoters of large power projects,” he added.
The company wants to sell 70 per cent of its production to India and the balance to China.
On an average, about 17 million tonnes of coal are needed for a generation capacity of 5,000 MW. Coal accounts for about 60-70 per cent of the power production cost in India for producers dependent on imports.
Though companies such as Reliance Power, Tata Power and Adani Power have their own mines in Indonesia, MEC is confident of convincing Indian companies as the price it is offering is quite attractive.
It has managed to offer a lower price compared to others as the rail link being developed will result in savings of about 50 per cent of transportation costs.
The company is targeting new power projects as existing companies use coal with calorific value of 6300 Kcal/kg while MEC will produce coal with calorific value of 5300 Kcal/kg. The stripping ratio of MEC mines is 1:1 (mud to coal), while for most mines it is 8:1, said Mr Koneru.
MEC has also signed an agreement with Nalco which plans to set up a one million tonne alumina smelter at the coal mine site in Indonesia. Nalco will hold 74 per cent stake in the project while MEL will have 26 per cent equity to provide assured coal supplies. The company is in the process of negotiating the price, he said.
Source: The Hindu Business Online
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Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-b ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
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- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
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