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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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Monday, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
Thursday, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
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- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Deloitte Consulting - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- ICICI Bank Limited - India
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