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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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Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
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- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
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