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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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- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Posco Energy - South Korea
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
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