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Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
 It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd but has yet to nominate the local entity which will partner the Indian state-run firm for prospecting and subsequent mining, the Cabinet was informed earlier this month.
According to government sources, CIL has to form a joint venture with a local partner who will be identified by that country's government for the concessions, identified as A1 and A2. CIL and its local partner will later have to shed 15% equity in the joint venture in favour of the Mozambique government, which cannot be brought down below 10%. Mozambique has also asked CIL to open an office in the national capital Maputo and train manpower.
For Block A1, CIL will make a refundable deposit of $2.1 million and pay $950,000 during the first five years of exploration phase and $15.25 million after five years during the mining phase. For Block A2, CIL will make a refundable deposit of $620,000, $330,000 in the exploration phase and over $5 million after five years.
CIL had won the blocks against nine other bidders. While one bid each from the UK and China were disqualified, there were three bids each from Portugal and Mozambique besides four from India. Block A1 covers an area of 109 sq km and Block A2 115 million. From preliminary studies, CIL reckons about 20% of the deposits to be coking coal and the remaining is expected to be good for using as fuel in power plants.
CIL is aiming to ensure a committed volume of around 20-30 million tonnes of coal from overseas which will be equal to about 50 million tonnes of domestic production. CIL has a cash pile of $6-7 billion. Since it can fund its future domestic expansion from internal accruals, it wants to use part of this reserve in getting equity in overseas mines.
CIL is also processing a plan for firming strategic partnerships with global majors and has shortlisted 12 firms, including Peabody of the US and Indonesia's Bumi. Some eight companies have made their presentations earlier this month. Four more are to make their proposals shortly.
One of the models that CIL is looking at could be that Coal India takes 10-15% equity in a producing mine or upto 25% in expanded capacity of an existing mine. In return, it will get captive right on a certain quantity of production. For CIL, such a partnership will ensure long-term volumes to bridge domestic supply gap and help it to cushion against price volatility.
The company had to import 59 million tonnes of coal when prices were at their peak of $60-65 per tonne of thermal coal. It will also help the company to achieve capacity targets quickly as expansion in India is hampered by the fact that most coal-bearing areas are inhabited and entail massive relief and rehabilitation of population.
Source: The Times of India
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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.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Aditya Birla Group - India
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