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