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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, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
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- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Aditya Birla Group - India
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