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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, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
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