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