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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, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- The University of Queensland
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
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