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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
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- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
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