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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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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Minerals Council of Australia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
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