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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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- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
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