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