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