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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, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
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