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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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Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Australian Coal Association
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- White Energy Company Limited
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- MS Steel International - UAE
- Planning Commission, India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
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