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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
Thursday, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 pe ...
Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According t ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
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- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Economic Council, Georgia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
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