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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, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
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- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- PTC India Limited - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
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