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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- The University of Queensland
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
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