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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
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- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
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