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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
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- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- PTC India Limited - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
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