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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
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- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- GMR Energy Limited - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- The University of Queensland
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
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