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