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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, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
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- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Commonwealth Bank - Australia
- India Bulls Power Limited - India
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