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Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
 Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian government attempts to benchmark its coal prices to international indices. The new system has the potential to increase the cost of thermal power generated using imported coal in India.
The new method that will come into effect from September attempts to link the royalties paid to the Indonesian government to an index of coal prices for Australian and South African coal in addition to others. But Indian firms said Indonesian coal is of lower calorific value and, hence, priced cheaper compared with Australian and South African coal.
Deepak Amitabh, director (corporate finance) of PTC, said there are lots of issues, which still need to be sorted before the coal prices are determined. “We are still not clear how the government will work out the price differentials between Indonesian coal and that produced by Australia or South Africa, for example. Also the spot prices are always costly compared with the long-term sales contracts. We need to find out if the long term contracts for Indonesian coal would be at discount to international market prices or not.”
In September 2010 the Indonesian government issued new regulations to determine the benchmark price for the sale of coal and minerals. The regulation proposes to peg the price for both domestic sales and export of coal to a ‘benchmark price’ for all the mining licensees. Dipesh Dipu, director, consulting (mining) at Deloitte in India said the new regulation will force companies to transact at market prices, which may be seen as raising the cost of delivered coal in India.
“When companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipu.
Banmali Agarwala, executive director and head of business development at Tata Power said, “The increased pricing will definitely affect the cost of generation and we are trying to work out a strategy to handle the additional hike.”
Adani group that sources coal from its mines in Indonesia is also expected to be affected by this regulation, as Adani Enterprises has direct stake in Bunyu mines in Indonesia. Adani Power has contracted to procure 4.6 mtpa coal from Adani Enterprises at $36 per tonne. However, the total import requirement for present operational capacities is around 6 mtpa.
Vijaykumar Bupathy, senior analyst with Spark Capital Advisors, said in report that “Assuming a $50 per tonne increase in the free on board (FoB) price of coal, there would be Rs 1,040 crore incremental fuel cost to the group to the extent of the committed 4.6 mtpa of supply alone.” However, when Financial Chronicle contacted Adani Enterprises, the company said there will be no direct impact on the company, since its total cost of mining and transporting Indonesian coal to Mundra is $25 per tonne. The coal is sold to Adani Power at $36 per tonne. “Any hike in price would only increase the royalty payments by around $1 or $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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- Deloitte Consulting - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Central Java Power - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Parliament of New Zealand
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