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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Australian Coal Association
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
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