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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
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- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Central Java Power - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
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