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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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Friday, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- PTC India Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
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