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