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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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Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
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- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Planning Commission, India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- The University of Queensland
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
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