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