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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, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
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- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- The University of Queensland
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
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