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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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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
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