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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, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
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