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