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