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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
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- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Planning Commission, India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
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