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