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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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Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Australian Coal Association
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Indian Energy Exchange, India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
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