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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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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
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