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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, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
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- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Planning Commission, India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Australian Coal Association
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Parliament of New Zealand
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
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