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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, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
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- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Planning Commission, India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- The University of Queensland
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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