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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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Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
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- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Planning Commission, India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
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