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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, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
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