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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, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Planning Commission, India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
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