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Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
 Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-600 million (Rs 2,500-2,735 crore). Trinity is owned by private equity investment firm Denham Capital Management,
Sources with knowledge of the developments said Essar’s first major coal mine acquisition abroad would provide coking coal and thermal coal linkages for its steel mills in the US and for a power project under construction in India.
Trinity has mines in Kentucky and West Virginia in the US, with reserves of 200 million tonnes and an annual output of about 7 million tonnes.
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“Essar Power, which is implementing close to 4,650 Mw of power projects, has a 1,200-Mw power project coming up in Gujarat, dependent on imported coal”
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Sources said negotiations were at an advanced stage and the deal was likely to be closed within two weeks. An Essar Group spokesperson declined to comment.
Essar has a steel plant at Algoma in Canada, acquired in 2007 for $1.63 billion. It also has a steel mill in Minnesota in the US. Essar is expanding capacity at Minnesota Steel in two phases, with a 4.1 million tonnes per annum (mtpa) pellet plant and another 1.5 mtpa steel plant, which is expected to be completed by 2012 and 2015, respectively. It is also planning to expand capacity of Algoma Steel to 5 mtpa from 4 mtpa, said sources.
Essar Power, which is implementing close to 4,650 Mw of power projects, has a 1,200-Mw power project coming up in Gujarat, dependent on imported coal. It is setting up a Rs 4,800-crore power project at Salaya near Jamnagar in Gujarat and the imported coal-based project is slated for completion by 2011.
All major power producers are scouting for coal mines abroad, mainly in Indonesia, South Africa, Australia and even in the distant US market.
Leading power sector companies such as Tata Power, Reliance Power and GMR Energy have already acquired coal mines in Indonesia. In August 2007, Tata Power acquired a 30 per cent stake in Indonesian energy giant PT Bumi Resources by paying close to $1.3 billion. Anil Dhirubhai Ambani Group firm Reliance Power also acquired three coal mines in Indonesia, with plans to spend over $650 million (over Rs 3,000 crore) to develop these.
GMR Energy also acquired 100 per cent ownership interest of Barasentosa Lestari coal mine in Indonesia by investing Rs 400 crore.
In the last two years, almost all power project developers like state-owned National Thermal Power Corporation (NTPC), Essar Power, Adani Power, JSW Energy, Indiabulls Power and Lanco Infratech have been searching for coal mines in Indonesia, to fuel some of their proposed power projects.
The Sajjan Jindal promoted JSW Energy is also planning to invest over Rs 4,500 crore to acquire coal mines abroad.
In the past, the Essar Group had acquired Dhabi Group’s telecom businesses in Uganda and Congo, Warid Telecom Uganda and Warid Congo. It also acquired a 50 per cent stake in Kenya Petroleum Refineries (KPRL) from Shell, BP and Chevron for an undisclosed sum.
Source: Business-Standard
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Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
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- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- PTC India Limited - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
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