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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
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- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- The University of Queensland
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
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