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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, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
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