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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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Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
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- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Australian Coal Association
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
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