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