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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, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
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- Economic Council, Georgia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
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