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