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