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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, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- The University of Queensland
- ASAPP Information Group - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Minerals Council of Australia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
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