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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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- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- PTC India Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
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