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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- London Commodity Brokers - England
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
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