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