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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, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
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