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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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Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
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- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- The University of Queensland
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
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