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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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Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
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- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- MS Steel International - UAE
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
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