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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
Thursday, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
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- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Planning Commission, India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
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