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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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Friday, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
Friday, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with ove ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
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- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Australian Coal Association
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
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