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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
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- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- VISA Power Limited - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
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