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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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Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
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- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
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- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
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- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
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- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Marubeni Corporation - India
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- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
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- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
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- Independent Power Producers Association of India
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- Eastern Energy - Thailand
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