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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
Wednesday, 30 July 14
CAPES SEEMED TO BE STRANDED AT THE SAME LEVELS; PANAMAXES MANAGED TO SLIGHTLY REVIVE - INTERMODAL
COALspot.com: The Dry Bulk market took a breath this past week, as both Panamaxes and Supras started to see a small influx of activity, which was j ...
Tuesday, 29 July 14
TOTAL SELLS ITS SOUTH AFRICAN COAL MINING ASSETS TO EXXARO
Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affili ...
Tuesday, 29 July 14
GENCO: DRY BULK SHIPPING VALUATIONS NO LONGER ANCHORED TO DISCOUNTED CASH FLOW METHOD - WEIL
KNOWLEDGE TO ELEVATE
Discounted cash flow analysis is a mainstay among the valuation methodologies used by restructuring professionals and bank ...
Tuesday, 29 July 14
SHIP OWNERS' DEMAND OF NEW VESSELS DENTED AS A RESULT OF LOWER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The sharp downward direction of dry bulk freight rates has had a negative impact on investors’ secondhand buying appetite that wait to see th ...
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- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
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