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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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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
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