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