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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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Friday, 14 June 13
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.20 MILLION SHORT TONS W/E 8 JUNE 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.20 million short tons (mmst) of ...
Thursday, 13 June 13
HANDY: SHORT PERIOD WERE FIXED AT AROUND USD 9000 LEVEL
Handy
Despite falling rates for bigger sizes, the Supras in Atlantic are seeing some improvements with fresh biz. US Gulf positions fetching tick a ...
Thursday, 13 June 13
BIMCO EXPECTS SUBDUED CAPESIZE EARNINGS FOR THE COMING WEEKS - HELLENIC SHIPPING NEWS
Bulk is not only about China even though it is a key driver. In this section, we have taken a closer look at the European seaborne coal markets, whi ...
Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in c ...
Thursday, 13 June 13
HARD COAL IMPORTS RISE SHARPLY IN GERMANY IN Q1 2013 - COAL IMPORTERS ASSOCIATION
Coal-fired Power Plants in Germany: Pillars of the Grid and the Energy Turnaround; Hard Coal Consumption and Hard Coal Imports Rise Sharply in Germa ...
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- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- The University of Queensland
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
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