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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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Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
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- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Australian Coal Association
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
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