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