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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, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
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- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Parliament of New Zealand
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
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