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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
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- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
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- Merrill Lynch Commodities Europe
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
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