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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, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
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