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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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Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
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- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
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- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
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- Eastern Energy - Thailand
- Minerals Council of Australia
- Australian Coal Association
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
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- Toyota Tsusho Corporation, Japan
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- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
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- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
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- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
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- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
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- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
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- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
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- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
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- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- GN Power Mariveles Coal Plant, Philippines
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