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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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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Parliament of New Zealand
- Bhushan Steel Limited - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
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