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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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Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- GVK Power & Infra Limited - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
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