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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
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