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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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Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
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- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- PowerSource Philippines DevCo
- Planning Commission, India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
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