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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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Friday, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
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