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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, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays.
BDI INDEX
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Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme.
"With th ...
Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...
Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010
* Logistics woes hamper SAfrica exports, India imports
India's steam coal imports ar ...
Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
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- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- White Energy Company Limited
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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