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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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Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
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- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Planning Commission, India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
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