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Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
 Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The board of state-owned miner Coal India Ltd (CIL) on Saturday approved a plan to acquire equity interest in 15-20 coal mines in Australia, Indonesia and the US. This could cost CIL up to $2 billion (Rs9,280 crore), according to chairman Partha S. Bhattacharyya.
CIL would develop some of these mines in partnership with firms such as US-based Peabody Energy Corp.—the world’s largest private sector coal miner—and Massey Energy Co.; others are operating mines in which CIL will buy small equity stakes in return for committed coal supplies.
“This is CIL’s first step towards achieving a global footprint… the benefits are going to be substantial,” Bhattacharyya said.
Through competitive bidding, which started in July, CIL had identified nine investment proposals. Its board decided that CIL will pursue the two best investment proposals each in Australia, Indonesia and the US.
The six investment proposals would give CIL access to some 15-20 mines, the due diligence on which would soon begin. “Within six months, we’ll start closing deals,” he said. “We are going to deal with highly credible partners. So the due diligence exercise should not take too long.”
“This is CIL’s first step towards achieving a global footprint… the benefits are going to be substantial”
- Chairman,
Coal India Ltd. |
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants. Coal supplies from these mines are expected to begin in fiscal 2011, Bhattacharyya said.
In fiscal 2009, CIL produced 404 million tonnes of coal, of which almost 300 million was sold to power plants. In the same year, India imported around 60 million tonnes of coal, of which 36-37 million tonnes was thermal coal.
“It’s a step in the right direction,” said Sumantra Banerjee, managing director of CESC Ltd, a Kolkata-based power utility. Key to the success of this arrangement is the freight cost of importing the coal. “Even if CIL secures high quality coal, the freight cost of importing coal from many countries—Australia and South Africa for instance—is prohibitive,” Banerjee added.
CIL expects to secure supplies at a substantial discount to international spot prices. Even if the landed cost of coal imported under this arrangement is $10 a tonne less than international spot prices, the country will save $500 million a year, assuming CIL imports on an average 50 million tonnes of coal a year, Bhattacharyya said, adding, “Some of this will, of course, translate into profits for CIL.” To read more Livemint
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Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
Saturday, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
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- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
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