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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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Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- The University of Queensland
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Australian Coal Association
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
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