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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, 26 September 13
INTERCARGO PUBLISHES BENCHMARKING BULK CARRIERS 2012-13 REPORT
The International Association of Dry Cargo Shipowners (Intercargo) has today launched Benchmarking Bulk Carriers 2012-13, the latest edition of our ...
Thursday, 26 September 13
DRY BULK MARKET KEEPS ON RALLYING ON THE BACK OF HIGH CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its momentum over the course of the past week, on the back of increased demand for Capesizes and an improvement of mark ...
Wednesday, 25 September 13
RBCT'S COAL EXPORT DECLINES IN AUGUST
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest coal export terminal in South African as well as in the world has shipped 16. ...
Wednesday, 25 September 13
CAPES TOUCHING RATES NO ONE BELIEVED COULD BE ACHIEVED IN 2013 - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market is the gift that keeps on giving these days. With rates for Capes touching numbers ...
Wednesday, 25 September 13
IS IT TIME AGAIN TO SUPERSIZE AGAIN? - GEORGE LAZARIDIS
After an early arrival of the seasonal rally in the Capesize market, things look to be on the upbeat for these dry bulk giants. With the Index reach ...
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- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
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