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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, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
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- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
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- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
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