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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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Monday, 24 August 09
10 LAKH (1 MILLION) TONNE COAL BURNT IN KPT
Times of India reported that, In an unusual phenomenon, 10 lakh tonne coal cache stored at a plot in Kandla Port Trust was reduced to ashes after it ...
Monday, 24 August 09
LANCO IN TALKS FOR INDONESIAN COAL MINE
Economic Times of India reported that, Infrastructure company Lanco Infratech is in advanced talks with Indonesian engineering, procurement and cons ...
Saturday, 22 August 09
'THE BDI IS LIKELY TO BE HOLDING AROUND 2,500 POINTS' - SHIPPING UPDATE
COALspot.com (Singapore): The dry bulk market continued to be soft and the BDI dropped by 10 percent this week and closed at 24,68 points this week. ...
Saturday, 22 August 09
INDIAN COAL BUYERS RE-EMERGE WITH FRESH TENDERS
Reuters world's largest international multimedia news agency reported that,Indian coal end-users have re-emerged after a few weeks with several fre ...
Friday, 21 August 09
HUANENG YIMIN TO HIKE COAL OUTPUT
China Daily, the largest English portal in China reported that, China's first large coal-electricity joint project, Huaneng Yimin Coal Electricity ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
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- Binh Thuan Hamico - Vietnam
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- Planning Commission, India
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- Goldman Sachs - Singapore
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- Indonesian Coal Mining Association
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- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
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- Semirara Mining Corp, Philippines
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- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
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- Kohat Cement Company Ltd. - Pakistan
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- Standard Chartered Bank - UAE
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- Renaissance Capital - South Africa
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- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
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- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
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- Bukit Makmur.PT - Indonesia
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- Electricity Authority, New Zealand
- PTC India Limited - India
- Parliament of New Zealand
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- Bhoruka Overseas - Indonesia
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- McConnell Dowell - Australia
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- VISA Power Limited - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
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- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
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- Singapore Mercantile Exchange
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- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
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