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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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- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
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