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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, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
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