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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, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
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- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
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