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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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Thursday, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
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- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- The University of Queensland
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
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