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