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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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Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
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- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- The University of Queensland
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
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