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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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Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- The University of Queensland
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
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