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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
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