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