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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
Wednesday, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
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- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
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