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