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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
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