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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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Thursday, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
Saturday, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
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- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- White Energy Company Limited
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
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