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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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Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
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- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
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