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