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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
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- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Planning Commission, India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
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