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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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Thursday, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Planning Commission, India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
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