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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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- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Indian Energy Exchange, India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
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