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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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- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Planning Commission, India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
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