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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Planning Commission, India
- VISA Power Limited - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
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