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