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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
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- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Minerals Council of Australia
- ASAPP Information Group - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- VISA Power Limited - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
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