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