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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- VISA Power Limited - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
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