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