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Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
 Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175.4 million) as it seeks greater control over raw materials.
The board of Brazil’s third-largest steelmaker approved an initial purchase of 28.8 million Riversdale shares, and CSN aims to buy an additional 2.48 million shares following Australian regulatory approval, the company said today in a statement. Rio de Janeiro-based CSN will pay A$6.10 for each share, 6.6 percent more than today’s closing price in Australian trading.
CSN said the acquisition is the “first step” toward becoming self-sufficient in coal as it seeks to control costs. CSN, which has the capacity to produce 5.6 million metric tons of crude steel a year, imports all its coal now. Metallurgical coal is used as a raw material in blast furnaces at CSN’s Volta Redonda crude-steel mill in Brazil.
“Coal is the only raw material CSN doesn’t have,” Flavia Ferreira, a company spokeswoman in Sao Paulo, said today in a telephone interview.
CSN initially wants to get metallurgical coal from Riversdale and possibly thermal coal for its power plants, Ferreira said.
CSN’s Strategy
The acquisition reinforces CSN’s strategy to supply its own raw materials and services “with stakes in iron ore, logistics, tin mining and now coal,” Ida Breyer, a Credit Suisse AG analyst in Sao Paulo, said in a note to clients.
Tata Steel Ltd., India’s biggest steelmaker, owns about 19 percent of Sydney-based Riversdale. Other shareholders include Oppenheimer Funds and Barclays Capital, according to Bloomberg data. Tata said Oct. 30 it was seeking thermal coal from Riversdale’s Mozambique mine for its power unit.
Benga, a project between Riversdale and Tata in Mozambique, will produce about 1.7 million tons of metallurgical coal and 300,000 tons of thermal coal starting in 2010, Riversdale said Oct. 28 in a statement to the Australian stock exchange. The mine may be expanded to 3.3 million tons of metallurgical coal and 2 million tons of thermal coal by 2014, Riversdale said.
CSN fell 0.8 percent to 59.37 reais in Sao Paulo trading today. The stock has more than doubled this year, more than the 79 percent gain for Brazil’s benchmark Bovespa index.
Source: Bloomberg
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Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
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- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
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- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Economic Council, Georgia
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- Independent Power Producers Association of India
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- TNB Fuel Sdn Bhd - Malaysia
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- MS Steel International - UAE
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- IEA Clean Coal Centre - UK
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- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
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- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
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- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
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- White Energy Company Limited
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- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
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- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
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- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
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- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
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- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- The University of Queensland
- Thai Mozambique Logistica
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
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- Meenaskhi Energy Private Limited - India
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- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
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- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
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- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
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- Tata Chemicals Ltd - India
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- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
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