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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 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
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- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
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- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
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- Mercator Lines Limited - India
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- The University of Queensland
- Parry Sugars Refinery, India
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- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
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