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Thursday, 27 February 20
FOREIGN COMPANIES LIKELY TO SKIP COMMERCIAL COAL BLOCK AUCTIONS - ECONOMIC TIMES
The Centre is in the process of inviting global players for commercial mining, following 100% foreign direct investment in the sector. However, given the tremendous pressure, foreign companies are facing from financial institutions and environmental pressure groups, their participation in the commercial coal mining in India is doubtful.
Commercial coal block auctions are likely to receive a lukewarm response from foreign players as big companies are losing interest in a sector which has been widely seen as polluting and avoided by top banks and financial investors, experts said.
The Centre is in the process of inviting global players for commercial mining, following 100% foreign direct investment in the sector.
Mining major Rio Tinto sold off its last coal assets in Queensland, Australia in 2018, while BHP recently said it would exit coal if presented with opportunities. The company operates mines in Australia and Colombia.
Anglo American, a large British mining company, has decided to reduce coal production over the next two years. Australia’s largest miner Glencore said in a statement that it aims to limit coal output capacity broadly to current levels. Murray Energy Corporation (MEC), America’s largest underground coal mining company, has filed for bankruptcy.Partha Bhattacharyya, former chairman, Coal India, said large miners are facing pressure to quit coal and be more environment-friendly.
“Given the tremendous pressure they are facing from financial institutions and environmental pressure groups, their participation in the commercial coal mining in India is doubtful. Their investors would not want them to invest in new coal assets,” he said.
A senior Coal India executive said the company is finding it difficult to find bankers to assess foreign assets as they are shying away from the sector. “Early last year when Coal India invited global tenders, merchant bankers like Goldman Sachs and Merrill Lynch had already exited the dry fuel segment.”
Players like ANZ, BNP Paribas, JP Morgan joined this list later during the year,” the executive said.
Bhattacharyya said foreign companies would also find it difficult to find bankers they need for due diligence of blocks they may bid for.
An industry executive said the fall in storage cost of renewable energy puts a cloud on the future of thermal coal. “All these may indicate that fresh thermal coal based power generation may also be unviable in the near future, prompting foreign players to stay away.”
By the end of 2019, some 112 global financial institutions holding more than $10 billion worth of assets under management had already exited coal. Global insurers divested roughly $8.9 trillion of coal-based investments. Most of them now refuse to insure new coal mines and power plants.
Source: The Economic Times
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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
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