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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, 09 January 14
CAPESIZE: WEST AUSTRALIA FREIGHT IS NOW DOWN IN THE $8S AND STILL DROPPING - FEARNLEYS
Handy
In the Atlantic we see rates sliding slowly for the start of 2014. Several players cvrd over the holidays and the rate decline was som ...
Thursday, 09 January 14
THE SHIPPING MARKET IN 2013 AND LOOKING FORWARD GLOBAL ECONOMY: STEADY AS SHE GOES UPWARDS - BIMCO
Over the past year, developed economies have gained traction while developing and emerging economies have suffered from slower growth. Despite key e ...
Wednesday, 08 January 14
DRY BULK MARKET PROSPECTS LOOKING BRIGHTER DESPITE SLOW START TO THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market's benchmark, the BDI has been on a fall since the start of 2014, ending yesterday's session down to 1,87 ...
Wednesday, 08 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL
COALspot.com: In the week ended January 6, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.27 m ...
Wednesday, 08 January 14
THE DRY BULK MARKET HAS LOST SOME OF ITS STEAM THESE PAST COUPLE OF DAYS: INTERMODAL
Chartering (Wet: Softer- / Dry: Softer- )
The Dry Bulk market has lost some of its steam these past couple of days although hires, espe ...
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- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Planning Commission, India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
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