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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, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
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- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Planning Commission, India
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- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
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- Independent Power Producers Association of India
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- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- The University of Queensland
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- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
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- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
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- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
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- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
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