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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
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- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Videocon Industries ltd - India
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