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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, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
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- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
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