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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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Saturday, 10 August 13
MOODY'S: OUTLOOK FOR US COAL INDUSTRY CHANGES TO STABLE FROM NEGATIVE
Moody's Investors Service has changed its outlook for the US coal industry to stable from negative, the rating agency says in a new report, "U ...
Saturday, 10 August 13
DEMOLITION ACTIVITY TO BE CRUCIAL AGAIN IN PROVIDING SUPPORT TO THE DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We appear to have forgotten demolition activity this year, with the Baltic Dry Index gaining traction in the latter part of the second half and emer ...
Friday, 09 August 13
US PRODUCED 4.00 PERCENT LESS COAL ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.00 million short tons (mmst) of ...
Thursday, 08 August 13
HANDY : NO POSITIVE SENTIMENT FOR THE FAR EAST MARKET - FEARNRESEARCH
Handy
No positive sentiment for the Far East market. There are a number of ships coming open in SE Asia this week and owners rating mid/high USD 8k ...
Thursday, 08 August 13
MALAYSIA HOSTS THIRD ANNUAL ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release : The third Annual Asian Sub-Bituminous Coal Users’ Group (ASBCUG) conference convenes Sept. 30-Oct. 3 at the Eastern & Orie ...
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- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
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