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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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Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
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- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
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