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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
Thursday, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
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