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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- The University of Queensland
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Australian Coal Association
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
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