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