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Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
 Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of them, who have responded to expression of interests (EoI) for strategic partnership with it. The idea is to import coal through this strategic partnership at a price which would be way cheaper than imported coal. In India, consumers either buy coal from the volatile spot market or through one-year contracts.
The coal major will primarily focus on either forming JV companies or collaborating with foreign entities who have coal assets in their respective home country. It is open to investing an aggregate of $1.5 billion in these ventures. CIL had invited expression of interests to form joint ventures or collaborate with mining companies from four countries – United States, Indonesia, Australia and South Africa.
Following his visit to meet interested parties in the US, Mr Partha S Bhattacharyya, chairman CIL said: "Central Mine Planning & Design Institute (CMPDIL) is examining each of these offers. They have made different offers and CMPDIL is examining them to come up with a format for presentation that needs to be made to CIL top bosses by December."
"We found that the companies in the US have not been experiencing much of a rise in production due to demand stagnation. However, they said, adequate investment and rise in demand in the form of orders from India could give them the boost to enhance production and take up additional investment in conjunction with CIL," said Mr Bhattacharyya.
Adding, he said: "We intend to work out the terms of the long term contract through strategic alliances which can be an effective way of importing coal faster and at cheaper prices."
On funding the proposed investments, Mr Bhattacharyya said: "CIL has total reserves of about $5-6 billion. It generates additional reserves of about Rs 3-4K crore (US$ 0. 643 - 0.857 billion) every year that can take care of the domestic investments for expansion and we would be open to investing anything between $1-5 billion for these ventures."
Back home, CIL registered a 9.9% rise to 184.44 million tonnes (167.8) in the first half of 2009-10. However, production from underground mines, which started showing a marginal rise, has declined once again albeit marginally by 0.31 mt to 20.78 mt. Coal offtake, on the other hand, rose 4.3% at 194.3 mt (186.22 mt) in the same period.
The company registered a decline in profit before tax 20% to Rs 3,600 crore (US$ 771,839,976.31 ) against Rs 4,484 crore (US$ 961,369,570.50) in the previous period. It is expecting a Rs 2,000 crore (US$ 428,799,986.84) additional outgo on account of wage revision and a Rs 1,400 crore (US$ 300,159,990.78) tax payout.
On forward E-auction, CIL top bosses said the first few e-auctions did not evince much interest from customers. About 16 lakh tonnes was offered but only about 2 lakh tonnes was picked up. "It seems that the mark-up on the notified price has not attracted adequate interest.
The base prices for e-auction were on cost of production basis subject to a maximum of 100% over notified price, since coal being offered were from underground mines that may have turned unviable if sold at notified prices. However, we need to reduce the base price to attract adequate bidders," he said. (US$ 1 = INR 46.641)
Source: Economic Times
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Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
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- Georgia Ports Authority, United States
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- The University of Queensland
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
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