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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, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
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- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
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