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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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- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Parliament of New Zealand
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