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