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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, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- VISA Power Limited - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
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