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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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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
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