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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, 09 January 14
CAPESIZE: WEST AUSTRALIA FREIGHT IS NOW DOWN IN THE $8S AND STILL DROPPING - FEARNLEYS
Handy
In the Atlantic we see rates sliding slowly for the start of 2014. Several players cvrd over the holidays and the rate decline was som ...
Thursday, 09 January 14
THE SHIPPING MARKET IN 2013 AND LOOKING FORWARD GLOBAL ECONOMY: STEADY AS SHE GOES UPWARDS - BIMCO
Over the past year, developed economies have gained traction while developing and emerging economies have suffered from slower growth. Despite key e ...
Wednesday, 08 January 14
DRY BULK MARKET PROSPECTS LOOKING BRIGHTER DESPITE SLOW START TO THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market's benchmark, the BDI has been on a fall since the start of 2014, ending yesterday's session down to 1,87 ...
Wednesday, 08 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL
COALspot.com: In the week ended January 6, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.27 m ...
Wednesday, 08 January 14
THE DRY BULK MARKET HAS LOST SOME OF ITS STEAM THESE PAST COUPLE OF DAYS: INTERMODAL
Chartering (Wet: Softer- / Dry: Softer- )
The Dry Bulk market has lost some of its steam these past couple of days although hires, espe ...
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- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Australian Coal Association
- Anglo American - United Kingdom
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
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