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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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Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
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- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
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