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