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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, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
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- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Planning Commission, India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
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