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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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Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
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