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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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Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
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- Indian Energy Exchange, India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Economic Council, Georgia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- The University of Queensland
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
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