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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, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- The University of Queensland
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
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