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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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Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- Economic Council, Georgia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
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