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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, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- White Energy Company Limited
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Aditya Birla Group - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
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