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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
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- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- The University of Queensland
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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