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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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Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
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- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
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