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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, 22 August 13
PANAMAX : PERIOD MARKET IS STILL BEING LED BY STRONGER SENTIMENT IN THE FFA'S - FEARNRESEARCH
Handy
This week started slowly as expected. Indo biz now rate APS around 7k +60k to china and around 8k+80k to India. However, there are some ships ...
Wednesday, 21 August 13
DRY BULK SHIPPING - POSITIVE WINDOW FOR CAPESIZE OWNERS - PETER SAND
By: Peter Sand, Chief Shipping Analyst, BIMCO
Demand:
“Expect the unexpected from the dry bulk market” was what we wrote last time ar ...
Wednesday, 21 August 13
RATES FOR CAPES MOVED DECISIVELY NORTH THIS WEEK - INTERMODAL
COALspot.com - Right when the BDI seemed ready for another dive below the 1000 points level, the Dry Bulk market made significant comeback this week ...
Tuesday, 20 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS FALL 19.15 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 19.15 per cent week on week to 2.39 million mt f ...
Tuesday, 20 August 13
CAPESIZE RATES MORE SENSITIVE TO DEMAND - COMMODORE RESEARCH & CONSULTANCY
COALspot.com : Approximately 71.50 million tons of iron ore is now stockpiled at Chinese ports, 900,000 tons (-1%) less than a week ago, Commodore R ...
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- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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