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