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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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Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points.
The Cape Si ...
Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...
Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...
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- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
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