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Wednesday, 07 October 09
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
 The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-run Coal India Ltd (CIL), the country’s largest coal mining firm, is looking to partner another state-owned company, Shipping Corp. of India Ltd (SCI), to form a joint venture to import coal to control costs as overseas purchases of the fuel are set to surge.
The venture is expected to be on the lines of the company that CIL has planned with Steel Authority of India Ltd (SAIL) for coal imports in which both firms plan to hold a 25% stake, with the remaining held by other strategic partners.
“We have held initial talks with the Shipping Corp. and its CMD (chairman and managing director) for a partnership” and will make it formal “when the time comes”, said Partha Bhattacharyya, CMD of CIL. “We will create a benchmark and if we need more capacity, we will involve the private sector as well.”
CIL is keen to acquire equity in overseas coal blocks to bridge the gap between demand and supply of the fuel in the domestic market, even as coal production in the country continues to decelerate.
“Supply chain integration for coal sourcing from foreign assets makes business sense in light of the historical peaks in coal prices and shipping charter rates,” said Dipesh Dipu, principal consultant (mining) with audit and consulting firm PricewaterhouseCoopers. “Now, when the markets have slumped, it may present an opportunity to build capacities in logistics that may complement Coal India’s efforts of acquiring and mining coal assets abroad,” he said.
The move will also protect the company against volatility in the international prices of coal. Currently CIL imports around 29 million tonnes per annum (mtpa) of thermal coal, which is slated to increase to 40 mtpa shortly.
The company is looking at opportunities in countries such as Mozambique, Bangladesh, Indonesia, South Africa and Australia.
“We have chosen Shipping Corporation as we both are public sector units,” Bhattacharyya said.
While an SCI spokesperson declined to comment, a director, who did not want to be identified, said, “If the CMD of Coal India and the CMD of SCI had talks on such a plan, it is yet to be converted into a proposal for the consideration of the board.”
India has 256 billion tonnes of coal reserves, of which around 455 mtpa are mined.
CIL is targeting a production of 435 mt this year, against 403.73 mt in 2008-09. The country expects imports to rise from 59 mt of coal now to around 100 mtpa by 2012.
Demand is expected to reach about two billion tonnes a year by 2031-32, around five times the current rate of extraction, with the maximum demand coming from the power sector.
“An alliance with the PSU (public sector unit) shipping major may mean access to market intelligence and expertise for Coal India, on the one hand, and may help SCI hedge risk of business cycles in international bulk trades, on the other,” said Dipu of PricewaterhouseCoopers.
Source: Live Mint
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Thursday, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
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- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
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- The State Trading Corporation of India Ltd
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- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Medco Energi Mining Internasional
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- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Merrill Lynch Commodities Europe
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- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
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- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
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- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
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- CNBM International Corporation - China
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- Petron Corporation, Philippines
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- Parliament of New Zealand
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
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