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