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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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Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Australian Coal Association
- Planning Commission, India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- The University of Queensland
- ASAPP Information Group - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
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