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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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Saturday, 10 August 13
MOODY'S: OUTLOOK FOR US COAL INDUSTRY CHANGES TO STABLE FROM NEGATIVE
Moody's Investors Service has changed its outlook for the US coal industry to stable from negative, the rating agency says in a new report, "U ...
Saturday, 10 August 13
DEMOLITION ACTIVITY TO BE CRUCIAL AGAIN IN PROVIDING SUPPORT TO THE DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We appear to have forgotten demolition activity this year, with the Baltic Dry Index gaining traction in the latter part of the second half and emer ...
Friday, 09 August 13
US PRODUCED 4.00 PERCENT LESS COAL ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.00 million short tons (mmst) of ...
Thursday, 08 August 13
HANDY : NO POSITIVE SENTIMENT FOR THE FAR EAST MARKET - FEARNRESEARCH
Handy
No positive sentiment for the Far East market. There are a number of ships coming open in SE Asia this week and owners rating mid/high USD 8k ...
Thursday, 08 August 13
MALAYSIA HOSTS THIRD ANNUAL ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release : The third Annual Asian Sub-Bituminous Coal Users’ Group (ASBCUG) conference convenes Sept. 30-Oct. 3 at the Eastern & Orie ...
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- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
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