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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
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