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