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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
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- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
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