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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Friday, 04 July 14
US: WEEKLY COAL PRODUCTION SLIGHTLY UP W-O-W
COALspot.com – United States the world's second largest coal producer, produced approximately 19.4 million short tons (mmst) of coa ...
Friday, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
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- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Marubeni Corporation - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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