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